In re Adams
New York Court of Common Pleas
Appeal from a judgment of this court entered upon the report of a referee upon reference of a disputed claim under a general assignment for benefit of creditors.
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Appeal from a judgment of this court entered upon the report of a referee upon reference of a disputed claim under a general assignment for benefit of creditors. The assignors, copartners under the firm name of R. & H. Adams, were silk manufacturers, and, on or about July 14th, 1882, made a contract with the claimant, James Talcott, their factor, that he should sell all their goods in stock and the entire production of their mills, at a specified commission, for a term thereby fixed of more than three 3'ears. They accordingly consigned to him all their goods in stock and the entire production…
1Opinion of the Court
Charles P. Daly, Chief Justice.
The claim of damages for a breach of contract was not provable as a debt under the assignment. It has been settled b}r a long series of decisions that unascertained claims for damages were not provable as debts in proceedings in bankruptcy; that in claims for damages arising from breaches of contract in indemnity bonds and other possible liabilities, the damages must be ascertained and fixed before the act of bankruptcy to entitle the claim to be proved as a debt of the bankrupt, unless the contingent liability is one that has been specifically allowed by…
2Cases cited4 opinions
- Kerr v. . BlodgettNew York Court of Appeals · 1871
- Kimpton v. BronsonNew York Supreme Court · 1866
- President &c. of Mechanics' & Farmers' Bank v. CapronNew York Supreme Court · 1818
- Kennedy v. StrongNew York Supreme Court · 1813
3Cited by13 opinions
- People v. . Metropolitan Surety Co.New York Court of Appeals · 1912
- In re the Assignment of LinkNew York Court of Common Pleas · 1887
- Scarritt Estate Co. v. J. F. Schmelzer & Sons Arms Co.Missouri Court of Appeals · 1905
- Henriques v. VinhacaHawaii Supreme Court · 1911
- In re HevenorNew York Supreme Court · 1893
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