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Show Pog 2 " Sugar House, Utah Thursday March 6, 1953 INDEPENDENT EQUITY IS A ROGUISH THING. FOR LAW WE IIAVE A MEASURE, KNOW WHAT TO TRUST TO; EQUITY IS ACCORDING TO THE CONSCIENCE OF HIM THAT IS CHANCELLOR, AND AS THAT IS LARGER OR; NARROWER, SO IS EQUnY. IT IS ALL ONE AS IF THEY SHOULD MAKE THE STANDARD FOR THE MEASURE WE CALL A TOOT" A CHANCELLOR'S FOOT; WHAT AN UNCERTAIN THING Tins WOULD BE! ONE CHANCELLOR HAS A LONG FOOT, ANOTHER A SHORT FOOT, A THIRD AN IN-DIFFERENT FOOT. IT IS Tlffi SAME FN THE CHAN-CELLOR'S CONSCIENCE. Table Talk, John Selden (1584-166- 4) This was the opinion of John Seldon in the years which immediately preceded the triumph of the Chancellor over the law of the King's Courts. Last week we brought the de-velopment of Equity up thr-ough the thirt-eenth century. Through the fourteenth cen-tury Equity suf-fered at the hands of the luderes of the . T " f '' " J2 FORM REAL ESTATE CON-TRACTS CURRENTLY IN USE IN Tlffi STATE OF UT1AH. OUR SUPREME COURT HAS BEEN ON RECORD FOR MANY YEARS AS REFUSING TO ENFORCE A PENALTY IN A LAND CONTRACT. ELLESMERE vs. COKE Chancellor Ellejsmere and Chief Justice Coke are the two chief protagonists in the drama which finally brought the Chancellor the undisputed power to supervise the judge-ments of the King's Courts. Chancellor Ellesmere coming fresh from a defeat of his power to give relief after a law judgement had been rendered was precipitated into a new attempt to curb his power. This legal Armageddon was instigated by Sir Edward Coke, The Lord Chief Justice of England, and the stormy petrel of English legal circles. Coke fought with anyone and everyone who opposed him and this included the King, whichever one happened to be on the throne. He was the life-long foe of Sir Francis Bacon, and this worked to his dis-advantage as we shall see. This final battle arose in this fashion. It seems there were two notorious swindlers, named Allen and Glenville. They had secured a judgement from the law- - courts by practicing fraud. For this the Chancellor punished them under his equitable powers. This action of the Chancellor pricked Chief Justice Coke's ire, and he persuaded the two swindlers to indict the prosecutors and their counsel because they had called into question a judgment of the King's Court. This they did, but the Chancellor appealed to the King (the fountainhead of all justice) and the King referred the matter to the Attorney General and other prominent lawyers, among them Sir Francis 'Bacon. This made a definite decision in favor of the Chancellor's power, much to Bacon's satisfaction and to Coke's chagrin. Thus was established the Chancellors indisputable power to issue injunctions against the courts of law and override the inadequate remedies of the common law. Next week we shall trace some af the modern results of the long and stormy battle of Equity to assert itself as an instrument of justice in the Anglo-Americ- an court system. See you then. King's Courts, Mr. Maughan as it had in the past. But for a body of rules so urgently needed as were those of Equity, the development of them was inevitable and the latter half of the fifteenth century saw the Chancellor, as the adminis-trator of justice, begin to come into his own. In the latter part of the , fifteenth century, the chancellor began to make decrees on his own authority. These decrees were directed toward the controversies, which, if solved under common law of the day, would have produced in-adequate relief. Thus, the watchword and yardstick which the Chancellor used to signal his intervention was, "Is the remedy at law Inadequate." - Under the common law forms of action in use at the time, the remedy at law was often inadequate. For example, where the common law could only make an award of ' money damages -- . here the Chancellor could step in and grant specific performance. He would do this by making a decree ordering the person in the wrong to personally do what should be done, e.g., suppose a person had been wrong-fully deprived of some item of personal property which could not be replaced, the money damages at law would-no-t do justice, but the Chancellor could do justice by effecting the specific return of the property. Another example is that of the unsealed contract, here the law would do nothing in the absence of a seal, but Equity through the Chancellor would take juris-diction and give relief. Con-tracts which were under seal, but which have been formed through fraud or mistake could not be the subject, of any relief in the courts of law, but here again the Chancellor took jurisdiction to give relief. . Other examples are those where equity would not allow the enforcement of a penalty provision in a contract, but would limit the recovery to the damages actually sustained. WE IIAVE EXAMPLES OF THE USE OF THE LATTER PRINCIPLE IN TID3 IN-TERPRETATION OF THE PROVISIONS OF THE UNI- - A Parthian Shot from John Selden, . HUMDHTY . IS A VIRTUE ALL PREACH, NONE PRACTICE, YET EVERYBODY IS CONTENT TO HEAR. Probate And Guardianship Notices NOTICE TO CREDITORS Estate of Vera L. Duffin, deceased. Creditors will present claims with vouchers to the under-signed at 718 North 8th West, Salt Lake City, Utah, on or before the 7th day of July, A. D. 1958. ANNA M. DUFFIN, Administratrix, of the Estate of Vern L. Duffin, Deceased. RICHARD. J.. MAUGHAN, Attorney for Administratrix. Date of first publication March 6th, A. D. 1958. Pub. dates Mar.6-13-20-- 27 NOTICE TO CREDITORS Estate of Lucy E. Colebrook, Deceased. Creditors will present claims with vouchers to the under-signed at the office of W. Douglas Allen. 2121 South State Street, Salt Lake City, Utah on or before the 7th day of July, A. D. 1958. , FAYE HILTON and EDITH WISEMAN, Co-Execut- rix of the Last Will and Testament of Lucy E. Colebrook, Deceased. W. DOUGHS ALLEN, Attorney for Oo-Execut- rix 2121 South State Street Salt Lake City, Utah. Date of first publication March 6th, A. D. 1958. Pub. dates Mar.6-13-20-- 27 'ANNUAL REPORT TO THE BANK COMMISSIONER OF THE STATE OF UTAH Report of condition of PIONEER SAVINGS AND LOAN ASS'N of Salt Lake City, County of Salt Lake, State of Utah. STATEMENT OF CONDITION AS AT THE CLOSE OF BUSINESS, DECEMBER 31, 1957 ASSETS Cash on hand and in banks $255,507.69 U. S. Government obligations $200,000.00 Other investment securities 129,187.27 Accrued interest receivable on investments 4,932.65 334,119.92 First mortgage direct reduction loans . .2,218,366.21 F. H. A. Title I loans & home improvement loans 18,087.69 2,236,453.90 Loans secured by shares or investment certificates of this Association 16,490.80 Real estate sold on contract 20,814.36 Stock in Federal Home Loan Bank . . 26,700.00 Office building .. $14,406.61 Less Dep'r $3,228.33 11,178.28 Furniture & fixtures $20,282.13 Less Dep'r. $3,781.80 16,500.33 Deferred charges 2,163.79 TOTAL ASSETS 2,919,929.07 LIABILITIES Unpledged Withdrawable Shares: Home Office Sub-Tot- al A Installment shares .... 2,121,810.85 2,121,810.85 Total Savings & Investment Share Accounts 2,121,810.85 Advance from Federal Home Loan Bank 200,000.00 Accounts payable 6,525.78 Due borrowers on loans in process 407,805.85 Advance payments by burrowers for taxes and insurance 9,238.98 Unapplied mortgage or contract payments 1,"513.62 Permanent, reserve or guaranty stock 75,000.00 Deferred Credits to Future Operations: A For unearned profit on real estete sold - Unearned Discount on Real Estate Contracts Purchased . 2,561.90 B For income collected in advance - Unearned Discount on Mome Improvement Loans 3,334.54 C Discount on U. S. Obligations 385.99 6,282.43 Specific Reserves: CReserve For Discounts . 31,248.11 31,248.11 General Reserves: A Legal Reserve Paid In Surplus 15,000.00 B Federal insurance reserve (if insured) . 32,150.24 E Reserve For Bad Debts 13,253.21 60,403.45 TOTAL LIABILITIES 2,919.929.07 Total Number of Mortgage Loan Accounts 189 Total Number of Savings and Investment Share accounts . 1326 STATE OF UTAH ) COUNTY OF SALT LAKE f gg Robert E. Doidge, being first duly sworn according to law, disposes and says that he is the President of the, above named corporation and that the foregoing-- report contains a full, true and correct statement of the condition of said corporation at the close of business on the 31st day of December, 1957. Dated this 23rd day of January, 1958. ROBERT E. DOIDGE President ATTEST G. Mann !Alan Solomon Jr. E. Doidge Subscribed and sworn to before me this 23rd day of Jan-uary, 1958. HELEN B. OLSEN (Notary Public) My Commission expires STATE OF UTAH OFFICE OF THE BANK COMMISSIONER I, SETH H. YOUNG, Bank Commissioner of the State of Utah, do" hereby certify that the foregoing is a true and correct copy of the statement of condition of the above named corporation filed in my office on January 29, 1958. SETH H. YOUNG Bank Commissioner SOUTH EAST INDEPENDENT 2020 South Main Dial IIu 61 The South East Independent is entered as Second Class Matter, March 1. 194 6. in Salt Lake City Post Office under the ac of March 3, 1879. It is published each Thursday morn-ing. The South East Independent is published by the News Bulletin Publishing Co. at 2020 South Main, Salt Lake City, Utah. Subscaiption rates are $3.00 per year by mail or ten cents the single copy. Send all mail to box 136 Sugar House Station, zone 6 Publisher Clair King Editor Emma D. King NATIONAL E D I T O B r 1 asTc-cTa'-- MARTELL'S' dance academy 809 EAST 21st SOUTH i Corner of 3rd East) IN 82 Classified ADS WORK WANTED:. . Steno. widow desires work to do in her home. Good service-expe- rt work. Dial IN6-695- 8 FOR SALE 2 bedroom home, dining room, knotty pine rm., full basement and good south east location. Reduced for quick sale to $13,500 bracket. Call IN FBIEE Estimates On Home REMODELING C-A-L- -L KIRKS LISTING SERVICE Selling Something List It With Kirki Listing Service Flat Fee No percentage charged on Items under $200 We bill you when your item is sold Buying Something Search no more for those used Items you want to buy Call Kirk's Listing Service As a free service to you we will give You the sellers name and address 653 - 4th Ave. DA 53 BLACK LOAMY TOP SOIL STEER MANURE GRADING HAULING PLOWING SCIIOCKEIt Landscaping 6400 So. 2Srd E. . CR 86 CALL EMMA!! With Your News, ,Parties etc. HVT 5-82- 61 IN7-173- 2 |