In re Eggert
District Court, E.D. Wisconsin
In Bankruptcy. On question certified,by the referee whether an assignment by the bankrupt of a claim against the city of Milwaukee for $1,241.10, made to the Bundie-Spence Manufacturing Company, a creditor, within four months before the filing of the petition, in consideration of a cash discount granted'by the creditor on an account for goods theretofore sold, constitutes an unlawful preference, under the provisions of section 60 of the bankruptcy act.
1Opinion of the Court
SEAMAN, District Judge.
The findings of fact certified in this matter are conclusive against the contention of a preference received by the creditor within the definitions of the statute. The transaction, as so found, was substantially this: The bankrupt was indebted to Bundie-Spence Manufacturing Company in the sum of $1,373.04 for supplies sold between April 28 and June 5, 1899, on credit, and on July 1st the account was adjusted by giving the bankrupt “a discount of ten per cent., which is the usual discount for cash in that line of business” and “pursuant to the contract under which the…
2Cases cited2 opinions
- Grant v. National BankSupreme Court of the United States · 1878
- Buchanan v. SmithSupreme Court of the United States · 1873
3Cited by14 opinions
- In re EggertCourt of Appeals for the Seventh Circuit · 1900
- Paper v. SternCourt of Appeals for the Eighth Circuit · 1912
- Stuart v. Farmers Bank of Cuba CityWisconsin Supreme Court · 1908
- Powell v. Gate City BankCourt of Appeals for the Eighth Circuit · 1910
- First Nat. Bank of Cleveland v. OrtenSupreme Court of Oklahoma · 1914
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