Newell v. Higgins
Supreme Court of Minnesota
Appeal by plan tiff, George R. Newell, from an order of the District Court of Hennepin County, William Lochren, J., made July 28, 1892, denying bis motion for a new trial. On April 3, 1891, Hans C. Peterson, a merchant doing business in Minneapolis was insolvent and unable to pay bis debts.
Read the full summary
Appeal by plan tiff, George R. Newell, from an order of the District Court of Hennepin County, William Lochren, J., made July 28, 1892, denying bis motion for a new trial. On April 3, 1891, Hans C. Peterson, a merchant doing business in Minneapolis was insolvent and unable to pay bis debts. He owed George R. Newell & Co. $4,060. He owed tbe First National Bank of Minneapolis $15,000. He owed other creditors about •$11,000. On that day an agreement was made by and between Peterson and bis creditors in and by which he agreed to convey to Newell for his firm, lots three (3) and four (4) in block…
1Opinion of the CourtGileillan, C. J.
One Peterson was indebted to the plaintiff’s Arm, Geo. R Newell & Co., and also to various other persons, and Peterson and various of his creditors, including plaintiff’s firm, executed a composition agreement by which that firm agreed to accept a conveyance of certain real estate in full of its claim, another creditor agreed to accept a conveyance of certain other real estate in full of the debt due it, and each of the other creditors agreed to accept 50 per cent, of his or their respective claims in full thereof. This agreement was carried out. Before signing the agreement it was agreed…
2Cases cited5 opinions
- Cairnes v. BleeckerNew York Supreme Court · 1815
- Lawrence v. . ClarkNew York Court of Appeals · 1867
- Fay v. FayMassachusetts Supreme Judicial Court · 1877
- Harvey v. HuntMassachusetts Supreme Judicial Court · 1876
- Allen v. American Building & Loan Ass'nSupreme Court of Minnesota · 1893
3Cited by1 opinion
- First National Bank v. SteeleSupreme Court of Minnesota · 1894