Lay v. Seago
Supreme Court of Georgia
Conveyance by insolvent. Accommodation acceptance. Commissions. Usury. Principal and surety. Before Judge Parrott. Gordon Superior Court. February Term, 1872. David B. Barrett, as administrator of Azariah P. Bailey, deceased, filed a bill against Alvin K. Seago, James Lay and others, creditors of bis said intestate, to marshal the assets of the estate.
Read the full summary
Conveyance by insolvent. Accommodation acceptance. Commissions. Usury. Principal and surety. Before Judge Parrott. Gordon Superior Court. February Term, 1872. David B. Barrett, as administrator of Azariah P. Bailey, deceased, filed a bill against Alvin K. Seago, James Lay and others, creditors of bis said intestate, to marshal the assets of the estate. The master appointed to audit the claims against said intestate reported that said Seago held a valid claim for $1,580 41, with interest thereon from December 13th, 1866, and that, by virtue of a deed dated July 19th, 1866, made by said Bailey…
1Opinion of the Court
Montgomery, Judge.
1. Was the deed from Bailey to Seago void, under sections 1942 and 1943, of the Code, on account of the provision in it for a return of the surplus left, if any, to Bailey after sale of the property, and payment of the debt to Seago which might arise from his having to take up the drafts. In the case of Cary vs. Giles, 10 Georgia, 28 to 35, Judge Nesbit says: “We know of no law of force in Georgia, which condemns as fraudulent and void a transfer made by a failing or insolvent institution, (the Bank of Macon) in payment 'of a just debt, because the amount transferred is…
2Cited by10 opinions
- Bank of Lumpkin v. Farmers State BankSupreme Court of Georgia · 1926
- Avary v. AvarySupreme Court of Georgia · 1947
- Booth v. Atlanta Clearing-House Ass'nSupreme Court of Georgia · 1909
- Campbell v. MorganSupreme Court of Georgia · 1900
- Commerce Finance Co. v. PerryCourt of Appeals of Georgia · 1942
5 more not listed; retrieve them via the Exa API.