Ogden v. Peters
New York Supreme Court
This was an appeal by the defendants, from a judgment rendered against them at a special term. The plaintiffs were judgment debtors óf the defendant Cornelius Peters, and the complaint was filed for the purpose of setting aside an assignment of his property, made by Peters to the defendants Brock and Doughty, in trust for the benefit of his creditors, on the ground that it was fraudulent and void as against creditors.
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This was an appeal by the defendants, from a judgment rendered against them at a special term. The plaintiffs were judgment debtors óf the defendant Cornelius Peters, and the complaint was filed for the purpose of setting aside an assignment of his property, made by Peters to the defendants Brock and Doughty, in trust for the benefit of his creditors, on the ground that it was fraudulent and void as against creditors. The defendants severally answered, denying all fraud, or intent to delay or hinder creditors, &c. The cause was referred to a referee, to take proofs, and was brought to a…
1Opinion of the Court
By the Court, S. B. Strong, J.
It has long been lamented by learned judges that assignments by insolvent debtors, giving preferences to a favored portion of their creditors, were tolerated by law. They are, however, if otherwise unobjectionable, valid, and the courts are bound to sustain them.
There is no objection to the assignment in this case apparent upon the face of it. It contains no provision calling for or excusing, delay, or for the appropriation of the property assigned for any other purpose than the payment of the debts of the assignor, nor for any other benefit to him. There is…
2Cited by9 opinions
- Angell v. RosenburyMichigan Supreme Court · 1864
- Bates v. AblemanWisconsin Supreme Court · 1860
- Kyle v. HarveysWest Virginia Supreme Court · 1885
- Hairgrove v. MillingtonSupreme Court of Kansas · 1871
- Cox v. ViseSupreme Court of Arkansas · 1887
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