Stimpson v. Poole
Massachusetts Supreme Judicial Court
Contract, by the assignee in insolvency of the estate of Gideon P. Noyes, to recover the proceeds of a promissory note, alleged to have been given by Noyes to the defendant as a preference.
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Contract, by the assignee in insolvency of the estate of Gideon P. Noyes, to recover the proceeds of a promissory note, alleged to have been given by Noyes to the defendant as a preference. The case was submitted to the Superior Court, and, after judgment for the defendant, to this court, on appeal, upon agreed facts, in substance as follows : On October 15, 1883, Noyes, being insolvent, and being indebted to the defendant for a preexisting debt, gave to the defendant, in payment for said debt, his promissory note for $150, payable in four months, indorsed by S. G. Dorman. The defendant had…
1Opinion of the CourtC. Allen, J.
The injury of which the plaintiff complains consists in the transfer by way of mortgage of the property of Noyes to Dorman. If Dorman had merely indorsed the note of Noyes to the defendant, and afterwards paid it, taking no property from Noyes as security, the other creditors of Noyes would have sustained no injury, and the plaintiff would have had no right of action against either Dorman or the defendant. It is the withdrawal of property of Noyes from the assets of his estate which alone gives the right of action against either. The plaintiff contends that for this act an action would lie…
2Cases cited2 opinions
- Lovejoy v. MurraySupreme Court of the United States · 1866
- Goss v. EllisonMassachusetts Supreme Judicial Court · 1884
3Cited by10 opinions
- New York Bank Note Co. v. Kidder Press Manufacturing Co.Massachusetts Supreme Judicial Court · 1906
- Purchase v. SeelyeMassachusetts Supreme Judicial Court · 1918
- Brewer v. CaseyMassachusetts Supreme Judicial Court · 1907
- Lutz v. Frick Co.Indiana Supreme Court · 1962
- Cote v. New England Navigation Co.Massachusetts Supreme Judicial Court · 1912
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