Schufeldt v. Abernethy
The Superior Court of New York City
This was a complaint filed by the plaintiff as receiver of Cornelius Lockwood, a judgment debtor, to set aside an assignment made by the debtor to the defendant.
Read the full summary
This was a complaint filed by the plaintiff as receiver of Cornelius Lockwood, a judgment debtor, to set aside an assignment made by the debtor to the defendant. The assignment preferred creditors, and the only grounds upon Which it was sought to be set aside were, that it contained a provision authorizing the assignee to sell the assigned property on such terms and conditions as in his judgment might be deemed best,” and that no schedule of the property was annexed to the instrument as required by its terms. The cause was argued, at special term, before Mr. Justice Campbell, and the…
1Opinion of the CourtBy the Court. Duer, J.
Were we at liberty to follow our own convictions, we should probably have no difficulty in holding that this assignment is valid, and consequently Would feel it our duty to declare that the judgment at special term, as erroneous, must be reversed.
But we are not at liberty to follow our own views, The Court of Appeals, in reversing the judgment of this court, in Nicholson v. Leavitt, has established the doctrine, that an assignment made by an insolvent debtor for the benefit of his creditors, is, upon its face, fraudulent and void, when, by its terms, a discretionary power is given to the…
2Cited by5 opinions
- Sumners. v. Hickss.Supreme Court of the United States · 1863
- Sackett v. MansfieldIllinois Supreme Court · 1861
- Dorr v. Schmidt & ZeiglerSupreme Court of Florida · 1896
- Wooldridge v. IrvingUnited States Circuit Court · 1884
- Muller v. NortonUnited States Circuit Court · 1884