James v. Mechanics' National Bank
Supreme Court of Rhode Island
Bill in Equity to set aside a transfer of personalty. On demurrer to the bill. Public Laws R. I. cap. 723, § 1, of June 20, 1878, provides: “ Whenever the property of any debtor shall have been attached or levied upon by any creditor, the debtor may, at any time before such property shall be sold, and the proceeds thereof applied to the payment of the claim or judgment upon which such attachment or levy shall have been made, within sixty days after such attachment or levy,…
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Bill in Equity to set aside a transfer of personalty. On demurrer to the bill. Public Laws R. I. cap. 723, § 1, of June 20, 1878, provides: “ Whenever the property of any debtor shall have been attached or levied upon by any creditor, the debtor may, at any time before such property shall be sold, and the proceeds thereof applied to the payment of the claim or judgment upon which such attachment or levy shall have been made, within sixty days after such attachment or levy, suspend such attachment or levy by making and having recorded in the records of the town or city where the assignor…
1Opinion of the CourtDureee, C. J.
The principal question is whether a voluntary assignment executed by an insolvent debtor or by a debtor in contemplation of insolvency, under Pub. Laws R. I. cap. 723, § 1, of June 20, 1878, for the purpose of dissolving an attachment, has an effect likewise to avoid preferences given by the assignor to his creditors, within sixty days prior to the assignment. The complainant contends that it has this effect under § 4. That section declares that “ conveyances and payments made and securities given by an insolvent debtor, or by a debtor in contemplation of insolvency, within sixty days of the…
2Cited by1 opinion
- Market National Bank v. Heintzeman & Co.Supreme Court of Rhode Island · 1887