Kerslake v. Brower Lumber Co.
Oregon Supreme Court
From Multnomah: Arthur L. Frazer, Judge. On June 21, 1894, the Brower & Thompson Lumber Company, an insolvent corporation (hereinafter designated as the “Lumber Company”), conveyed all of its property, real and personal, by deed and bill of sale absolute in form, to one E. H. Thompson, in trust, however, “for the benefit of all its creditors, without any preference or priority, other than provided by law. ’ ’ The declaration of trust was never placed on record, but Thompson…
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From Multnomah: Arthur L. Frazer, Judge. On June 21, 1894, the Brower & Thompson Lumber Company, an insolvent corporation (hereinafter designated as the “Lumber Company”), conveyed all of its property, real and personal, by deed and bill of sale absolute in form, to one E. H. Thompson, in trust, however, “for the benefit of all its creditors, without any preference or priority, other than provided by law. ’ ’ The declaration of trust was never placed on record, but Thompson immediately took possession of all the property of the lumber company, and continued to manage, control, and dispose of…
1Opinion of the CourtChief Justice Bean
1. The assignees of the wagon road company claim a preferred lien on the fund in the hands of the receiver by virtue of the attachment of August 14, 1894, and in support thereof insist that the prior deed or assignment to Thompson was illegal and void, because (1) it was not a statutory assignment for the benefit of creditors; (2) it was not assented to by the wagon road company, and therefore not binding on it; and (3) it was made for the purpose of hindering, delaying, and defrauding creditors. But, as we understand the law, none of these objections can be urged by the petitioners in this…
2Cases cited5 opinions
- Pratt v. AdamsNew York Court of Chancery · 1839
- Frierson v. BranchSupreme Court of Arkansas · 1875
- O'Bryan Bros. v. Glenn Bros.Tennessee Supreme Court · 1892
- McLaughlin v. Park City BankUtah Supreme Court · 1900
- Adler-Goldman Commission Co. v. People's BankSupreme Court of Arkansas · 1898
3Cited by3 opinions
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- Bown v. FrankOregon Supreme Court · 1927
- Rogers v. ACME OIL TOOL COMPANYSupreme Court of Oklahoma · 1956