U.S. Supreme Court
Van Riswick v. Spalding, 117 U.S. 370 (1886)
Van Riswick v. Spalding
Argued March 10, 1886
Decided March 22, 1886
117 U.S. 370
A creditor who, by the terms of a trust deed executed in good faith by the debtor to secure payment of the debt, has the power to order the land to be sold either by public auction or private sale and to direct the trustee to convey to the purchaser, and the amount of whose debt is thrice the value of the land, may accept the land in satisfaction of the debt and cause it to be conveyed by the trustee to the debtor's children as a gift to them from the creditor without affording to other creditors of the debtor any just cause of complain.
The case is stated in the opinion of the court.