Knoll v. Commercial Trust Co.
Supreme Court of Pennsylvania
Appeal, No. 53, Jan. T., 1915, by defendant, from judgment of C. P. Berks Co., Feb. T., 1913, No. 519, on verdict for plaintiff in case of John J. Knoll, Trustee of The Walley-Sarge Company, Bankrupt Estate, v. Commercial Trust Company of Reading. Assumpsit by a trustee in bankruptcy to recover from a creditor an alleged preference given by the bankrupt. Before Wagner., J. The opinion of the Supreme Court states the facts.
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Appeal, No. 53, Jan. T., 1915, by defendant, from judgment of C. P. Berks Co., Feb. T., 1913, No. 519, on verdict for plaintiff in case of John J. Knoll, Trustee of The Walley-Sarge Company, Bankrupt Estate, v. Commercial Trust Company of Reading. Assumpsit by a trustee in bankruptcy to recover from a creditor an alleged preference given by the bankrupt. Before Wagner., J. The opinion of the Supreme Court states the facts. Verdict for plaintiff for $3,762.50 and judgment thereon. Defendant appealed. • Errors assigned were answers to points, instructions to the jury, rulings on evidence, the…
1Opinion of the Court
Opinion by
Mr. Justice Frazer,
Defendant bank held an overdue note of $4,000 against the Walley-Sarge Company, one of its depositors, and on September 30, 1912, the latter gave to defendant its check for $3,500 drawn against its account. A week later a petition in bankruptcy was filed against the Walley-Sarge Company and it was subsequently adjudged a bankrupt. The trustee in bankruptcy sued to recover the $3,500 claiming the payment was a preference of creditors within the meaning of See. 60, (a) and (b) of the National Bankruptcy Act of July 1, -1898, c. 541, 30 Stat. 544, which provides that…
2Cases cited4 opinions
- Studley v. Boylston National BankSupreme Court of the United States · 1913
- New York County National Bank v. MasseySupreme Court of the United States · 1904
- Traders' Bank v. CampbellSupreme Court of the United States · 1872
- In re Docker-Foster Co.District Court, E.D. Pennsylvania · 1903
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- Commonwealth v. Tradesmen's Trust Co.Supreme Court of Pennsylvania · 1915
- First Nat. Bank of El Centro v. HarperCourt of Appeals for the Ninth Circuit · 1918