National Bank of Commerce v. Bailey
Massachusetts Supreme Judicial Court
Bill in equity by a bank holding a promissory note and bill of exchange, respectively made and accepted by Francis Batch-elder and Company, against the defendant as assignee for the benefit of creditors of that firm, praying that the plaintiff might be allowed to become a party to the assignment and that the defendant might be directed to assent thereto, filed June 11, 1900, and amended January 19 and 30, 1901. The defendant demurred to the bill.
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Bill in equity by a bank holding a promissory note and bill of exchange, respectively made and accepted by Francis Batch-elder and Company, against the defendant as assignee for the benefit of creditors of that firm, praying that the plaintiff might be allowed to become a party to the assignment and that the defendant might be directed to assent thereto, filed June 11, 1900, and amended January 19 and 30, 1901. The defendant demurred to the bill. The case was heard by Lathrop, J., who reserved it for the consideration of the full court upon the amended bill and demurrer, such decree to be…
1Opinion of the CourtMorton, J.
The defendant is the assignee under a common law assignment made by Francis Batchelder and Company for the benefit of their creditors. The plaintiff is and was at the date of said assignment a creditor of the assignors. The assignment was dated December 16, 1899, and contains the following provision: “ No creditor shall be deemed a party to this agreement or entitled to the benefit of its provisions, who fails to assent in writing to the terms of the same within thirty days from its date . . . provided, however, that any person who was a creditor of the parties of the first part [Francis…
2Cases cited3 opinions
- Hall v. McLeodCourt of Appeals of Kentucky · 1859
- National Union Bank v. CopelandMassachusetts Supreme Judicial Court · 1886
- First National Bank v. SmithMassachusetts Supreme Judicial Court · 1882
3Cited by3 opinions
- Strasnick v. CinamonMassachusetts Supreme Judicial Court · 1933
- International Trust Co. v. LivermoreMassachusetts Supreme Judicial Court · 1915
- Moulton v. BartlettMassachusetts Supreme Judicial Court · 1907