Rice v. Melendy
Supreme Court of Iowa
Appeal from IfahasJca District Ooxvrt. Action of trespass for taking goods and merchandise claimed by plaintiff. The answer denies generally the allegations of the petition, and, as a further defense, sets up that Clark & Freer, being insolvent, fraudulently sold to plaintiff the goods in question, with a view to give preference to plaintiff, a creditor of the firm, and that plaintiff, at the time of the purchase, had reasonable cause to believe Clark & Freer to be insolvent…
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Appeal from IfahasJca District Ooxvrt. Action of trespass for taking goods and merchandise claimed by plaintiff. The answer denies generally the allegations of the petition, and, as a further defense, sets up that Clark & Freer, being insolvent, fraudulently sold to plaintiff the goods in question, with a view to give preference to plaintiff, a creditor of the firm, and that plaintiff, at the time of the purchase, had reasonable cause to believe Clark & Freer to be insolvent and in failing circumstances, and the conveyance of the property was not made in the usual course of trade, but with a…
1Opinion of the Court
Beck, J. —
I. Section 35, of the Act of Congress, approved March 2, 1867, establishing a uniform system of bankruptcy, provides that conveyances and transfers of property by any person who is insolvent, or in contemplation of insolvency, within four months prior to the institution of bankruptcy proceedings against him, in payment of debts, to one having reasonable cause to believe the party making the conveyance is insolvent, and that the conveyance is in fraud of the act, shall be void. All conveyances made within six months of the filing of proceedings in bankruptcy by like parties to others…
2Cases cited1 opinion
- Beals v. QuinnMassachusetts Supreme Judicial Court · 1869
3Cited by3 opinions
- Burnham v. Fort Dodge Grocery Co.Supreme Court of Iowa · 1909
- Stark v. WhiteSupreme Court of Iowa · 1932
- Melendy v. RiceSupreme Court of the United States · 1877