Hitchcock v. Rollo
U.S. Circuit Court for the Northern District of Illnois
This was a bill by Charles Hitchcock against William E. Rollo, assignee of the Merchants’ Insurance Co., to establish a set-off. This case, in many respects, resembles the case of Drake v. Rollo [Case No. 4,066], immediately preceding. The complainant, on the 15th of May, 1867, borrowed of the insurance company the sum of $20,000, payable in five years, to secure which he gave his notes, secured by mortgage on real estate in Chicago.
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This was a bill by Charles Hitchcock against William E. Rollo, assignee of the Merchants’ Insurance Co., to establish a set-off. This case, in many respects, resembles the case of Drake v. Rollo [Case No. 4,066], immediately preceding. The complainant, on the 15th of May, 1867, borrowed of the insurance company the sum of $20,000, payable in five years, to secure which he gave his notes, secured by mortgage on real estate in Chicago. The insurance company . was rendered insolvent by the Chicago fire of October 9th, 1871, at which time complainant held three policies of insurance against the…
1Opinion of the Court
DRUMMOND, Circuit Judge.
The only point not decided in the previous case is as to the claim assigned to the plaintiff. It is admitted that the plaintiff, at the time of the assignment, knew that the company was insolvent, and that proceedings in insolvency or bankruptcy were imminent
There are two questions which we may consider in this case, as they have both been argued, and exist either together or separately in several of the cases which were taken up at the same time. 1st Can the claims assigned be allowed as a set-off? And, 2d. Does the knowledge which a person had of the pecuniary…
2Cases cited1 opinion
- Columbian Insurance v. BlackNew York Supreme Court · 1820
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