Roakes v. Bailey & Newcomb
Supreme Court of Vermont
Appeal from the Court of Insolvency. Heard by the court, March Term, 1882, Redfield, J., presiding. The court reversed the judgment of the Court of Insolvency, and rendered judgment for Bailey & Newcomb for the full amount of their claim, and adjudged that all the payments made by said Roakes after May 4th, 1880, should be applied in reduction of the account of New-comb, accruing after that date. Roakes was an insolvent debtor. An assignee was settling his estate.
Read the full summary
Appeal from the Court of Insolvency. Heard by the court, March Term, 1882, Redfield, J., presiding. The court reversed the judgment of the Court of Insolvency, and rendered judgment for Bailey & Newcomb for the full amount of their claim, and adjudged that all the payments made by said Roakes after May 4th, 1880, should be applied in reduction of the account of New-comb, accruing after that date. Roakes was an insolvent debtor. An assignee was settling his estate. The partnership of Bailey & Newcomb was dissolved May 4th, 1880. Newcomb was their successor. Roakes was indebted to both. Bailey…
1Opinion of the Court
The opinion of the court was delivered by
Powers, J.
I. Upon the dissolution of a firm, its old customers lose no legal rights against it until they have notice in fact of the dissolution. A debtor paying money to his creditor has the primary and paramount right to direct the application of his money to such items or demands as he chooses. This direction may be given in' express terms, or it may appear by implication from the circumstances of the transaction. If the debtor pays with one intent and the creditor receives with another, the intent of the debtor shall govern. If no application is…
2Cases cited2 opinions
- Tayloe v. T. & S. SandifordSupreme Court of the United States · 1822
- Boutwell v. MasonSupreme Court of Vermont · 1839
3Cited by6 opinions
- French v. . RichardsonSupreme Court of North Carolina · 1914
- McDonald v. PlaceSupreme Court of Vermont · 1914
- Sanborn v. ColeSupreme Court of Vermont · 1891
- Cavanaugh v. MarbleSupreme Court of Connecticut · 1908
- P. Ballantine & Sons v. FennSupreme Court of Vermont · 1914
1 more not listed; retrieve them via the Exa API.