Austin v. A. & W. Sprague Manufacturing Co.
Supreme Court of Rhode Island
Bill in Equity to compel the transfer of corporate stock. November 1, 1873, the A. & W. Sprague Manufacturing Company executed the following deed, which was acknowledged and delivered December 1, 1873 : “ This Indenture, made and entered into this First Day of November, A. D. Eighteen Hundred and Seventy Three, by and between the A. & W. Sprague Manufacturing Company, a corporation created by the General Assembly of the State of Rhode Island, and transacting business in the…
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Bill in Equity to compel the transfer of corporate stock. November 1, 1873, the A. & W. Sprague Manufacturing Company executed the following deed, which was acknowledged and delivered December 1, 1873 : “ This Indenture, made and entered into this First Day of November, A. D. Eighteen Hundred and Seventy Three, by and between the A. & W. Sprague Manufacturing Company, a corporation created by the General Assembly of the State of Rhode Island, and transacting business in the city of Providence, William Sprague, of South Kingstown, Amasa Sprague, of Cranston, Mary Sprague, widow of William…
1Opinion of the CourtStINESS, J.
The main question raised by the pleadings is whether the conveyance to Chafee is in fraud of creditors. The complainant contends that it is necessarily so from its character, recitals, and provisions, and that no extrinsic evidence can be admitted to explain the circumstances and intent of its execution.
If a conveyance be fraudulent as to creditors it is quite immaterial what form it may take, whether deed, lease, or mortgage ; it will be set aside. Nevertheless the form of conveyance may be very material in determining whether it is in fraud of creditors. For example, the deed by a solvent…
2Cases cited17 opinions
- Dunham v. . WatermanNew York Court of Appeals · 1858
- Cheatham v. . HawkinsSupreme Court of North Carolina · 1877
- Chafee v. Fourth National BankSupreme Judicial Court of Maine · 1880
- Thomas v. TrieberCourt of Appeals of Maryland · 1852
- McGill's creditors v. McGill's administratorCourt of Appeals of Kentucky · 1859
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