Boyd v. Lemon & Gale Co.
Court of Appeals for the Fifth Circuit
Appeal from the District Court of the United States for the Northern District of Mississippi. Boyd & Baker, the appellants, were adjudicated involuntary bankrupts by the United States district court for the Northern district of Mississippi, from which judgment they prosecute this appeal. The petition seeks to charge them with the first and second acts of bankruptcy, as laid down in paragraph a, § 3, Bankr.
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Appeal from the District Court of the United States for the Northern District of Mississippi. Boyd & Baker, the appellants, were adjudicated involuntary bankrupts by the United States district court for the Northern district of Mississippi, from which judgment they prosecute this appeal. The petition seeks to charge them with the first and second acts of bankruptcy, as laid down in paragraph a, § 3, Bankr. Act 1898. That part of the i>etition is in the following language: “The said Boyd & Baker committed an act of bankruptcy in that they did heretofore, to wit, on the 8th day of January,…
1Opinion of the Court
• PARDEE, Circuit Judge,
after stating the facts as above, delivered the opinion of the court.
The same question was raised by the demurrer as is involved on the merits, and it is this; Whether it is an act of bankruptcy, under the bankruptcy act of 1898, for an insolvent debtor to sell all of his property to one not a debtor, for cash, and then apply the proceeds to the full payment of part of his creditors to the exclusion of others. Counsel for appellants contends that it is not an act of bankruptcy for an insolvent debtor to sell all of his property for cash, nor is it an act of bankruptcy…
2Cases cited1 opinion
- Pirie v. Chicago Title & Trust Co.Supreme Court of the United States · 1901
3Cited by3 opinions
- McKenzie v. ThomasSupreme Court of Georgia · 1903
- Brinkley v. SmithwickDistrict Court, E.D. North Carolina · 1903
- In re Advance Oil Co.Court of Appeals for the Third Circuit · 1924