Bridgers v. Farmers Banking & Trust Co.

"What are the constituent elements of a voidable preference as contemplated and defined by section 60 of the National Bankruptcy Act?

The Bankruptcy Act, section 60(a) provides in substance that: “A person shall be deemed to have given a preference if, being insolvent, he has, within four months before the filing of the petition or after the filing of the petition and before the adjudication, . . . made a transfer of any of his property, and the effect of the . . . transfer will be to enable any of his creditors to obtain a greater percentage of his debt than any other of such creditors of the…