Litchfield v. . White
New York Court of Appeals
Appeal from the general term of the Superior Court of the city of New York, where a judgment rendered in favor of the plaintiffs, in a case tried before the court, without a jury, had been affirmed.
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Appeal from the general term of the Superior Court of the city of New York, where a judgment rendered in favor of the plaintiffs, in a case tried before the court, without a jury, had been affirmed. (Reported below, 3 Sandf. 545.) This was a suit in the nature of a creditor’s bill, brought by judgment-creditors of the defendant, Robert H. White, to set aside, as fraudulent and void, an assignment for the benefit of creditors, made by the judgment-debtor to the other defendant, William H. Seward, on the 16th December 1847. . The assignment was for the equal benefit of all the creditors of the…
1Opinion of the Court
*Ruggles, O. J.
The' assignment in question 441 ] contained a clause by which it was mutually agreed between the¡ parties .• thereto, that .the ■ assignee should not be liable or accountable for any loss that might be sustained: by. the trust-property, or the proceeds thereof, unless the same'should happen by reason of • the gross negligence or wilful misfeasance of the assignee.
It is difficult to conceive,. what motive led to the insertion,of this provision,in -the assignment,- unless it had, or was- supposed .to have, the- effect of qualifying the responsibility of the assignee, and of…
2Cases cited2 opinions
- Meacham v. SternesNew York Court of Chancery · 1842
- Winn v. CrosbyThe Superior Court of New York City · 1876
3Cited by32 opinions
- Costello v. . CostelloNew York Court of Appeals · 1913
- Levy's AccountingNew York Court of Common Pleas · 1876
- In Re the Accounting of CornellNew York Court of Appeals · 1888
- Bankers Trust Company v. United StatesDistrict Court, S.D. New York · 1970
- Thomas v. Carlton Ex Rel. Special Road & Bridge District Number OneSupreme Court of Florida · 1932
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