Liberman v. Low

On March 2, 1931, Connolly Brothers, an Oregon corporation, were engaged in the general mercantile business in Klamath Falls. On that date, it made a general assignment for the benefit of all its creditors to the Adjustment Bureau of the Portland Association of Credit Men. On March 9,1931, said Adjustment Bureau transferred all the property of Connolly Brothers, covered by said assignment, to Gr. W. Brainard as trustee for said creditors. Sometime in the latter part of March, said Brainard, in the liquidation of the business, sold and transferred to plaintiffs herein all of said property.

On…