In re Peasley
District Court, D. New Hampshire
In Bankruptcy. On the 5th day of June, A. D. 1903, the bankrupt contracted to sell to one Eugene G. Bradshaw, of Gardner, in the county of Worcester and commonwealth of Massachusetts, for the sum of $4,000, certain lands, buildings, mills and mill privileges, and standing timber, which said lands, buildings, etc., comprised practically all the realty then owned by the bankrupt; and on said 5th day of June the said Peasley executed a bond in the sum of $5,000 to the said…
Read the full summary
In Bankruptcy. On the 5th day of June, A. D. 1903, the bankrupt contracted to sell to one Eugene G. Bradshaw, of Gardner, in the county of Worcester and commonwealth of Massachusetts, for the sum of $4,000, certain lands, buildings, mills and mill privileges, and standing timber, which said lands, buildings, etc., comprised practically all the realty then owned by the bankrupt; and on said 5th day of June the said Peasley executed a bond in the sum of $5,000 to the said Bradshaw, conditioned upon Peasley giving Bradshaw a good and sufficient warranty deed of the above property. The bond…
1Opinion of the CourtAldrich, District Judge
(after stating the facts as above). The question here is whether Mr. Everett, who held the bankrupt’s bond for a deed of lands in New Hampshire, was entitled to have his claim for part payment of the purchase money under the bond allowed against the bankrupt estate as a lien claim.
The creditor’s position is that, having paid a certain sum of money under the bond contract, and the obligor having been prevented from performance by reason of bankruptcy, that his claim should be allowed as a claim secured by an equitable lien resulting inherently from the situation. As the creditor’s position…
2Cases cited4 opinions
- Ahrend v. OdiorneMassachusetts Supreme Judicial Court · 1875
- James v. GrayCourt of Appeals for the First Circuit · 1904
- Adams v. LeeSupreme Court of New Hampshire · 1887
- Marston v. OsgoodSupreme Court of New Hampshire · 1896