International Silver Co. v. Hull & Co.
Supreme Court of Georgia
The Court of Appeals certified to the Supreme Court the following question for decision (in case 4588) : “If one desiring to purchase a stock of merchandise in bulk demands and receives from the vendor a written statement under oath, purporting to contain the names and addresses of all the creditors of the vendor, together with the amount of the vendor’s indebtedness to each of them, and, within the time required by the statute, due notice of the proposed sale, the price to…
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The Court of Appeals certified to the Supreme Court the following question for decision (in case 4588) : “If one desiring to purchase a stock of merchandise in bulk demands and receives from the vendor a written statement under oath, purporting to contain the names and addresses of all the creditors of the vendor, together with the amount of the vendor’s indebtedness to each of them, and, within the time required by the statute, due notice of the proposed sale, the price to be paid, and the terms and conditions thereof is given by the purchaser to each of the creditors whose names appear on…
1Opinion of the CourtLumrkin, J.
Prior to 1903 sales of stocks of merchandise in bulk could only be attacked for fraud under the same rules as were applicable to sales generally. Civil Code, §§ 3224, 4109. The legislature was of the opinion that this was not sufficient to meet the evil, or possible evil, of a failing merchant’s making a secret sale of his stock in bulk, placing the proceeds beyond reach, and leaving his creditors helpless, unless they could show both fraud on his part, and notice to the purchaser. Even then, a subsequent innocent purchaser might take a good title. It was deemed proper to give additional…
2Cited by12 opinions
- Stuart v. Elk Horn Bank & Trust Co.Supreme Court of Arkansas · 1916
- Fischer v. Rio Tire Co.Texas Commission of Appeals · 1933
- Linn County Bank v. DavisSupreme Court of Kansas · 1918
- Johnston Bros. Co. v. WashburnAlabama Court of Appeals · 1917
- Clifton v. DunnSupreme Court of Georgia · 1951
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