South Branch Lumber Co. v. Ott
Supreme Court of the United States
APPEAL FROM THE CIRCUIT COURT OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF IOWA. The court stated tbe case as follows: On April 27, 1886, George Ott, one of the defendants, doing business at Davenport, Iowa, made a general assignment of all his property, for the benefit of his creditors, to Charles F; Meyer.
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APPEAL FROM THE CIRCUIT COURT OF THE UNITED STATES FOR THE SOUTHERN DISTRICT OF IOWA. The court stated tbe case as follows: On April 27, 1886, George Ott, one of the defendants, doing business at Davenport, Iowa, made a general assignment of all his property, for the benefit of his creditors, to Charles F; Meyer. The next day complainant commenced it& action at law in the District Court of Scott County, Iowa, against Ott, to recover $37,191.69, and caused a writ of attachment to 'be issued against the property of Ott. The writ was served by a levy upon certain real estate; and by the…
1Opinion of the CourtJustice Brewer
The single' question in this case is as to the validity of the assignment. Its invalidity is claimed under section 2115 of the Code of Iowa: “ No general assignment by an insolvent, or in contemplation of "insolvency, for the benefit of creditors, shall be valid unless it be made for the benefit of all his creditors in proportion to the amount of their respective claims.” Iowa Rev. Stats. 56.9. This statute has been in force since 1851. Code, 1851, § 977; Revision, 1860, § 1826. The assignment in question, standing by itself presents no ground of challenge. It purports to be a general…
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