[Download] "Trustees Phillips Exeter Academy v. Exeter" by Court of Appeals of New York ~ eBook PDF Kindle ePub Free
eBook details
- Title: Trustees Phillips Exeter Academy v. Exeter
- Author : Court of Appeals of New York
- Release Date : January 06, 1940
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 88 KB
Description
The plaintiff was incorporated by act of the General Assembly of the State in 1781, as an educational institution not conducted for private gain. Its preamble sets forth that "the Education of Youth has ever been considered by the wise & good, as an object of the highest consequence to the safety & happiness of a people", that the Honorable John Phillips desires to give certain property to trustees to be by them "forever appropriated & expended for the support of a public Free School or Academy " in Exeter, and that there is need for the trustees to act in a corporate capacity. It then proceeds to establish in Exeter "an Academy " to promote "piety & virtue, and for the education of Youth" in enumerated and unenumerated subjects, and incorporates the trustees to be and "continue a body-politic and corporate, by the same name [of the Trustees of the Phillips Exeter Academy] forever." One provision permits the trustees to remove the Academy and establish it in another place within the state, consistently with the founders intention. Another provision authorizes the trustees and their successors to take and receive by gift or otherwise real and personal property, "provided, that the annual income of the said real estate shall not exceed the sum of five hundred pounds; and the annual income of the said personal estate shall not exceed the sum of two thousand pounds; both sums to be valued in Silver at the rate of six shillings and eight pence by the ounce."