Davis v. Cobb
Supreme Court of Minnesota
Appeal by Albert C. Cobb, as assignee of tbe estate of A. F. Kelley, insolvent, from a judgment of tbe district court for Hennepin county, allowing tbe claim of Alice B. Davis for $4,960.75 and interest against said estate, entered pursuant to the findings of Elliott, J. In bankruptcy or insolvency proceedings partnership creditors have a primary and exclusive claim on partnership assets, and individual creditors have a similar claim on individual assets.
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Appeal by Albert C. Cobb, as assignee of tbe estate of A. F. Kelley, insolvent, from a judgment of tbe district court for Hennepin county, allowing tbe claim of Alice B. Davis for $4,960.75 and interest against said estate, entered pursuant to the findings of Elliott, J. In bankruptcy or insolvency proceedings partnership creditors have a primary and exclusive claim on partnership assets, and individual creditors have a similar claim on individual assets. Hawkins v. Mahoney, 71 Minn. 155; 3 Kent, Com. 65. If a firm and all its members are insolvent, it is not lawful for one member, in…
1Opinion of the CourtLovely, J.
This action arose on an appeal from the disallowance of a claim by the assignee of the insolvent estate of A. F. Kelley. The trial court allowed the claim, upon which judgment was duly entered. The assignee appeals to this court.
A. F.. and L. E. Kelley were partners, and carried on the business of loaning money for outside investors, one of whom was Alice B. Davis, the respondent. The Kelleys also as a firm made an assignment in insolvency. About a month previous to the assignment of the firm, an indebtedness of such firm to respondent was estimated upon a past-due- and open account made up…
2Cases cited5 opinions
- Prewit v. WilsonSupreme Court of the United States · 1881
- Jaeger v. . KelleyNew York Court of Appeals · 1873
- Mackellar v. PillsburySupreme Court of Minnesota · 1892
- Gallagher's AppealSupreme Court of Pennsylvania · 1886
- Hawkins v. MahoneySupreme Court of Minnesota · 1898
3Cited by3 opinions
- Aretz v. KloosSupreme Court of Minnesota · 1903
- Farmers Co-Operative Assn. of Bertha v. KotzSupreme Court of Minnesota · 1946
- Weberg v. Chicago, Milwaukee, St. Paul & Pacific RailroadSupreme Court of Minnesota · 1953