Butler v. Stoddard
New York Court of Chancery
This was an appeal from a decree of the vice chancellor of the fifth circuit, dismissing the complainants’ bill. The complainants were judgment creditors of the defendant Stoddard, and their execution against him had been returned unsatisfied. The bill was filed to reach his property and choses in action, and to set aside an assignment thereof to the defendants Thurber & Townsend as fraudulent.
Read the full summary
This was an appeal from a decree of the vice chancellor of the fifth circuit, dismissing the complainants’ bill. The complainants were judgment creditors of the defendant Stoddard, and their execution against him had been returned unsatisfied. The bill was filed to reach his property and choses in action, and to set aside an assignment thereof to the defendants Thurber & Townsend as fraudulent. While the complainants were proceeding in their suit at law against Stoddard for the recovery of their debt, he made an absolute assignment of his store of goods, inventoried at cost prices at about…
1Opinion of the Court
The Chancellor.
Upon a careful examination of the answers of the defendants and the evidence in this case, I think the conclusion of the vice chancellor, that the assignment of Stoddard’s property was not fraudulent, was erroneous. Independent of the legal presumption of fraud arising from his continuance in possession after the execution ef the absolute bill of sale, I think the amount of property assigned was, at its fair value, much more than sufficient to pay the debt due to the purchasers. The case would have been somewhat different if Thurber & Townsend had taken the property in absolute…
2Cited by14 opinions
- Robinson v. . StewartNew York Court of Appeals · 1854
- Hopkins v. BishopMichigan Supreme Court · 1892
- Burt v. McKinstrySupreme Court of Minnesota · 1860
- Doyle v. StevensMichigan Supreme Court · 1856
- Price v. Masterson'sSupreme Court of Alabama · 1860
9 more not listed; retrieve them via the Exa API.