Ames v. Blunt
New York Court of Chancery
This was an appeal from a decretal order of the vice chancellar of the first circuit. In 1817 E. M. Blunt being in failing circumstances, made an assignment of his property for the benefit of his creditors, to William Hooker, and authorized the assignee to use the property in carrying on the business in which Blunt had previously been engaged. Hooker continued the business until January, 1823, at which time he became insolvent.
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This was an appeal from a decretal order of the vice chancellar of the first circuit. In 1817 E. M. Blunt being in failing circumstances, made an assignment of his property for the benefit of his creditors, to William Hooker, and authorized the assignee to use the property in carrying on the business in which Blunt had previously been engaged. Hooker continued the business until January, 1823, at which time he became insolvent. He then, in conjunction with Blunt, made an assignment of the property and effects of the establishment to the defendants, Burtis, Morgan and Bancker, in trust, to pay…
1Opinion of the Court
The Chancellor.
The vice chancellor was right in refusing to go into an inquiry whether the assignment of 1817 was not fraudulent as respected the creditors of E. M. Blunt. It was valid as between the parties thereto; and as the complainants were not then creditors, it could not have been made to defraud them. Those who were then creditors, had a right to elect to take the provision made for them by the assignment, even conceding it to have been fraudulent. And they have a prior equity to be paid out of the property then assigned, or the proceeds thereof, if it can now be traced and…
2Cited by18 opinions
- National Butchers & Drovers' Bank v. HubbellNew York Court of Appeals · 1889
- Mussey v. NoyesSupreme Court of Vermont · 1854
- Sullivan v. . MillerNew York Court of Appeals · 1887
- Hunt v. WeinerSupreme Court of Arkansas · 1882
- Smith v. CraftU.S. Circuit Court for the District of Indiana · 1882
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