Porter v. Clark
New York Court of Appeals
Demurrer.—This action was brought by the plaintiff, as receiver, to set aside an assignment executed by the defendant Williams, to the defendant Clark. The assignment was made on the 5th of January, 1850.' It embraces all the property and effects of the assignor, except such articles as are by law exempt from levy and sale. It is made for the benefit of creditors, giving preferences.
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Demurrer.—This action was brought by the plaintiff, as receiver, to set aside an assignment executed by the defendant Williams, to the defendant Clark. The assignment was made on the 5th of January, 1850.' It embraces all the property and effects of the assignor, except such articles as are by law exempt from levy and sale. It is made for the benefit of creditors, giving preferences. The assignee is authorized, by the terms of the assignment, to sell and dispose of the property assigned, either at public or private sale, to such person or persons, at such price or prices, and on such terms…
1Opinion of the Court
Denio, Judge.
1. Whatever doubt may formerly have existed, it is now settled by this court that the provision in the assignment authorizing the trustee to sell the assigned property on credit, renders the transfer fraudulent and void, as against the creditors of the assignors. (M. S. Court of Appeals, October Term, 1852, Nicholson agt. Leavitt. See 2 Seld. 510.)
2. The instrument executed on the 30th day of March, 1850, was wholly without effect to change the legal character of the assignment. As between the assignor and assignee, that instrument had vested the title to the property in the…
2Cases cited7 opinions
- McElwain v. WillisCourt for the Trial of Impeachments and Correction of Errors · 1832
- Padgett v. LawrenceNew York Court of Chancery · 1843
- Gillet v. FairchildNew York Supreme Court · 1847
- Brownell v. CurtisNew York Court of Chancery · 1843
- Hudson v. PletsNew York Court of Chancery · 1844
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3Cited by3 opinions
- Weyman v. National Broadway BankThe Superior Court of New York City · 1880
- Darrow v. LeeNew York Court of Common Pleas · 1863
- In re the Accounting of RaymondNew York Supreme Court · 1882