Otis v. Maguire
Supreme Court of Alabama
Appeal from the Chancery Court of Mobile. Heard before the Hon. John A. Foster. The bill in this case was filed on the 10th November, 1884, by William Otis, a creditor of John Maguire, on behalf of himself and all other creditors who might come in and make themselves parties complainant with him, against the said John Maguire and several other persons; and sought to have a certain conveyance, which said Maguire had executed to his co-defendants, declared and established as a…
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Appeal from the Chancery Court of Mobile. Heard before the Hon. John A. Foster. The bill in this case was filed on the 10th November, 1884, by William Otis, a creditor of John Maguire, on behalf of himself and all other creditors who might come in and make themselves parties complainant with him, against the said John Maguire and several other persons; and sought to have a certain conveyance, which said Maguire had executed to his co-defendants, declared and established as a general assignment, enuring to the benefit of all of the grantor’s creditors equally. The conveyance, a copy of which…
1Opinion of the CourtSomkrville, J.
— The question presented in this case is, whether an absolute and unconditional sale of a debtor’s property to his creditors, for a valuable consideration, can be declared an assignment, within the meaning of section 2126 of the Code. This section, as amended by an act approved February 23, 1883, provides, that “ every general assignment made by a debtor, by which a preference or priority of payment is given to one or more creditors over the remaining creditors of the grantor, shall be and enure to the benefit of all the creditors of the grantor equally; but this section shall not apply to,…
2Cases cited5 opinions
- Danner & Co. v. Brewer & Co.Supreme Court of Alabama · 1881
- Shirley v. TealSupreme Court of Alabama · 1880
- Blank v. GermanSupreme Court of Pennsylvania · 1842
- Bebb v. PrestonSupreme Court of Iowa · 1855
- Commercial Bank of Selma v. BrewerSupreme Court of Alabama · 1882
3Cited by2 opinions
- Ellison v. MosesSupreme Court of Alabama · 1891
- Smith v. McCaddenSupreme Court of Alabama · 1902