In Re the General Assignment of Hatch
New York Court of Appeals
Appeal from an order of the Appellate Division of the Supreme Court in the first judicial department, entered December 6, 1897, modifying and affirming, as modified, an order of Special Term confirming the report of a referee. The nature of the proceeding and the facts, so far as material, are stated in the opinion.
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Appeal from an order of the Appellate Division of the Supreme Court in the first judicial department, entered December 6, 1897, modifying and affirming, as modified, an order of Special Term confirming the report of a referee. The nature of the proceeding and the facts, so far as material, are stated in the opinion. Mr. Huntington had a Tight under the statute to set off his claim for money loaned to Hatch prior to the assignment against the claim of Hatch’s .assignee for his proportion of the money collected by Huntington in the Baltimore and Canadian suits under the agreement of June 24,…
1Opinion of the CourtO’Brien, J.
The only question necessary for us to consider in this case is that of the right to offset one claim against another. The facts that bear upon this question are these: On the 14th of November, 1887, the firm of A. S. Hatch & Co., as a firm, and each of the individual members as such, made a general assignment for the benefit of creditors. At that time Huntington had a claim against A. S. Hatch, individually, of $17,389.22, and against the firm of $20,167.49, and he still holds these claims against the individual and firm estate in the hands of the assignee.
On the 24th of June, 1886, more than…
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