Legal Opinion
In Re Circle Trading Corporation
Court of Appeals for the Second Circuit
Decided May 7, 1928No. 234PublishedCited by 6 opinions
1Opinion of the Court
AUGUSTUS N. HAND, Circuit Judge.
The bank had reasonable cause to believe that the Circle Trading Corporation was insolvent when it took a bill of sale of all its tangible assets at $35,000, and the cheek was used to pay off notes of the Circle' Trading Corporation which the bank held, representing balances due. If nothing more had been shown, there dearly would have been an illegal preference. But the bank answers the contention that these payments constituted a voidable preference by saying that it had originally financed the purchase of the goods embraced in the bill of sale on behalf of…
2Cases cited11 opinions
- Hervey v. Rhode Island Locomotive WorksSupreme Court of the United States · 1877
- Parrot v. Mexican Central Railway Co.Massachusetts Supreme Judicial Court · 1911
- In re A. E. Fountain, Inc.Court of Appeals for the Second Circuit · 1922
- Corbett v. RiddleCourt of Appeals for the Fourth Circuit · 1913
- Riley v. Pierce Oil CorporationNew York Court of Appeals · 1927
6 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Miller v. Wells Fargo Bank International Corp.District Court, S.D. New York · 1975
- Rubenstein v. NourseCourt of Appeals for the Eighth Circuit · 1934
- Banque De France v. Chase Nat. Bank of City of New YorkCourt of Appeals for the Second Circuit · 1932
- Lopez v. United StatesDistrict of Columbia Court of Appeals · 1992
- New York Trust Co. v. Island Oil & Transport Co.Court of Appeals for the Second Circuit · 1929
1 more not listed; retrieve them via the Exa API.