Strong & Buck v. Mitchell
Supreme Court of Vermont
Trustee Process. The trustee disclosed, that he was indebted to the principal defendant upon certain promisory notes, and also that he had a quantity of manganese, belonging to the principal defendant; and he claimed to be allowed for certain offsets.
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Trustee Process. The trustee disclosed, that he was indebted to the principal defendant upon certain promisory notes, and also that he had a quantity of manganese, belonging to the principal defendant; and he claimed to be allowed for certain offsets. And among other things the trustee disclosed, that, previous to the service of the trustee process upon him, he had signed, as co-surety with the principal defendant, two promissory notes to one Cheever, and that he had paid the whole amount due thereon, after the trustee process was served upon him. He also disclosed, that he was authorized to…
1Opinion of the Court
'The opinion of the court was delivered by
Bennett, J.
The thirty-fifth section of the trustee act provides, “ that the trustee shall be allowed to deduct out of the credits in his hands all his demands, founded on contract, express, or implied, .against the principal defendant; and he shall be adjudged trustee only for the balance.” This section does not require the indebtedness absolutely to exist at the time, when the trustee suit was commenced. If, before final disclosure, the principal defendant becomes indebted to the trustee, in consequence of his being compelled to pay a sum of money…
2Cases cited1 opinion
- Hazeltine v. PageSupreme Court of Vermont · 1832
3Cited by6 opinions
- Husted v. StoneSupreme Court of Vermont · 1896
- Barney v. GroverSupreme Court of Vermont · 1856
- Fischer v. GaitherOregon Supreme Court · 1898
- Garfield v. Rutland InsuranceSupreme Court of Vermont · 1897
- Liddell v. WiswellSupreme Court of Vermont · 1887
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