Kraft v. Otman
Court of Appeals for the Seventh Circuit
Appeal from the District Court of the United States for the Northern Division of the Southern District of Illinois. In the matter of the Glas-Shipt Dairy Company, bankrupt. Petition of George Kraft against A. M. Otman, trustee in bankruptcy, was denied by the referee. Prom decree of the court affirming the order, petitioner appeals.
Read the full summary
Appeal from the District Court of the United States for the Northern Division of the Southern District of Illinois. In the matter of the Glas-Shipt Dairy Company, bankrupt. Petition of George Kraft against A. M. Otman, trustee in bankruptcy, was denied by the referee. Prom decree of the court affirming the order, petitioner appeals. Appeal from an order directing petitioner to pay the trustee in bankruptcy $29,500 and denying petitioner’s petition to withdraw his bid on the real estate of the bankrupt. On May 11, 1916, the referee in bankruptcy, upon proper petition, ordered the trustee to…
1Opinion of the CourtEvans, Circuit Judge
(after stating the facts as above). [1] A sale through proceedings in bankruptcy is a judicial sale, subject to the same rules as an auction. The bidder may withdraw his bid at any time before the hammer falls. Hibernian Savings & Loan Society v. Behnke, 121 Cal. 339, 53 Pac. 812; Grotenkemper v. Achtermeyer, 11 Bush (Ky.) 222; Neb. T. & L. Co. v. Hamer, 40 Neb. 281, 58 N. W. 695; Blossom v. Railroad Co., 3 Wall. 196, 206, 18 L. Ed. 43.
[2, 3] Had the hammer fallen, so as to prevent the bidder from withdrawing his bid, on June 3d?- The answer to the question turns upon the construction of the…
2Cases cited5 opinions
- Blossom v. Railroad Co.Supreme Court of the United States · 1866
- Nebraska Loan & Trust Co. v. HamerNebraska Supreme Court · 1894
- Hibernia Savings & Loan Society v. BehnkeCalifornia Supreme Court · 1898
- Grotenkemper v. Achtermeyer & Co.Court of Appeals of Kentucky · 1875
- In re Lane Lumber Co.Court of Appeals for the Ninth Circuit · 1913
3Cited by3 opinions
- J. J. Sugarman Co. v. DavisCourt of Appeals for the Tenth Circuit · 1953
- Drabant v. CureSupreme Court of Pennsylvania · 1924
- Reece v. CartwrightSupreme Court of Iowa · 1930