Corning & Norton v. White
New York Court of Chancery
The bill in this cause was filed by judgment creditors ter reach the equitable assets of the defendant, after an execution at law issued against him had been returned unsatisfied. The defendant, in his answer, admitted the rights of the complainants, and that he possessed equitable assets ; but allege éá that he had other judgment creditors whose executions were unsatisfied. And he insisted that they were entitled to a share of his property.
1Opinion of the Court
The Chancellor.
This court has frequently decided that ■ the creditor who first files his bill here to reach the defendant’s property, which cannot be sold' on an execution at law, obtains a preference ; and that the defendant has no right to object that there are other creditors whose debts he had also refused to pay out of such property. Equality among creditors is' equity, whether their debts are' in judgment, or otherwise ; and every debtor has the right to act upon that principle, without impairing any of his rights. He cannot be discharged under the insolvent acts, if he gives a…
2Cited by41 opinions
- In re HoweNew York Court of Chancery · 1828
- Miller v. SherrySupreme Court of the United States · 1865
- The Ocean National Bank v. . OlcottNew York Court of Appeals · 1871
- Smith v. . FeltonNew York Court of Appeals · 1871
- Todd v. LeeWisconsin Supreme Court · 1862
36 more not listed; retrieve them via the Exa API.