Townsend v. Newell

By the court, Barnard, Justice.

From the specific facts found by the referee, it is clear that the arrangement under which the notes in suit were given was fraudulent as to such of the other creditors as Barker procured to sign the instrument of release, which is in the nature of a composition deed.

All the cases in reference to composition deeds lay it down as a fundamental principle, that all private agreements between the debtor and one of the creditors signing the deed, whereby such creditor secures or seeks to secure an advantage over the other creditors so signing, are void and cannot be…