Seattle Ass'n of Credit Men v. Hudson MacHinery Co.

On April 29, 1948, Hosmer Associates, Inc., (hereinafter referred to as Hosmer) executed and delivered to Seattle Association of Credit Men, a common-law assignment for the benefit of creditors. At the time of this assignment, Hosmer was insolvent. On August 5, 1948, Seattle Association of Credit Men, as assignee, instituted this action against Hudson Machinery Co., Inc., to recover the sum of $759.90 alleged to constitute a voidable preference within the meaning of the state preference act. Laws of 1941, chapter 103 (Rem. Supp. 1941, §§ 5831-4 to 5831-9 [P.P.C. §§ 448-1 to 448-11]).…