Beasley v. . Bray
Supreme Court of North Carolina
Civil ACTION, tried before Avery, Judge, at Spring Term, 1887, of Currituck Superior Court. One A. B. Williams, conducting a mercantile business at Poplar Branch, in Currituck county, in February, 1885, sold his remaining stock of goods to the plaintiff, then just become of age, and who had been for three years preceding in his service as clerk, at the price of three thousand three hundred and fifty dollars.
Read the full summary
Civil ACTION, tried before Avery, Judge, at Spring Term, 1887, of Currituck Superior Court. One A. B. Williams, conducting a mercantile business at Poplar Branch, in Currituck county, in February, 1885, sold his remaining stock of goods to the plaintiff, then just become of age, and who had been for three years preceding in his service as clerk, at the price of three thousand three hundred and fifty dollars. As a means of payment the plaintiff executed three notes, two in the sum of one thousand dollars each, payable in one and two years, and the other for the residue of the purchase money at…
1Opinion of the Court
Smith, C. J.,
(after stating the case). There is no finding of a fraudulent intent in the making the sale, as there is none apparent in the transaction considered by itself and divested of attending incidents.
An insolvent owner of property has the same right as one who is solvent, to dispose of it by a sale or conveyance to secure a present indebtedness, in the absence of an operating bankrupt act, when done bona fide and not with the covinous purpose of hindering or defrauding creditors, and the presence of such purpose alike vitiates and avoids the conveyance made by either. When the…
2Cases cited4 opinions
- Savage v. . Knight and BryantSupreme Court of North Carolina · 1885
- Moore v. . HinnantSupreme Court of North Carolina · 1883
- State Ex Rel. Sullivan v. LoweSupreme Court of North Carolina · 1870
- Westcott v. . HewlettSupreme Court of North Carolina · 1872
3Cited by21 opinions
- Battle v. MayoSupreme Court of North Carolina · 1889
- Arrington v. . ArringtonSupreme Court of North Carolina · 1894
- Woodruff v. . BowlesSupreme Court of North Carolina · 1889
- National Bank of Greensboro v. GilmerSupreme Court of North Carolina · 1895
- Phifer v. . ErwinSupreme Court of North Carolina · 1888
16 more not listed; retrieve them via the Exa API.