Jacobs v. . Fensterstock

Hiscock, Ch. J.

This action is brought to recover for goods, wares and merchandise sold by the plaintiff to the defendant and it is believed to involve a construction of provisions of the Bankruptcy Law providing for compositions by insolvent debtors.

The defendant became insolvent and involuntary bankruptcy proceedings were instituted against him. Before these proceedings were concluded a composition offer was made, accepted by the requisite number of creditors and approved by the court. Under this the defendant was to pay ten per cent of his debts in cash and was to give two notes for an…