Leitch v. . Hollister
New York Court of Appeals
The complainant filed a creditor’s bill before the vice chancellor of the seventh circuit, in March, 1844, against Lyman A. Walker, the judgment debtor, to which the respondents were subsequently made parties, as the assignees of Walker, for the purpose of avoiding an assignment made by him to them, on the ground of fraud.
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The complainant filed a creditor’s bill before the vice chancellor of the seventh circuit, in March, 1844, against Lyman A. Walker, the judgment debtor, to which the respondents were subsequently made parties, as the assignees of Walker, for the purpose of avoiding an assignment made by him to them, on the ground of fraud. It appeared that Walker was indebted to .the respondents, severally, in various sums, in the aggregate amounting to about $3000; that he had commenced a suit against one Merrifield upon a building contract* which had in due course been referred; that while the suit was thus…
1Opinion of the CourtGardiner, J.
It has been decided in this state, that a general assignment of property for the benefit of a particular class of creditors, made by an insolvent debtor, containing a trust for his own benefit, is fraudulent and void as against creditors. It is immaterial, whether the purpose to transfer all his property in effect appears upon the face of the assignment, or is established by extrinsic evidence; in either case, the whole trust is void. (Barney v. Griffin, 2 Comst. 370; Goodrich v. Downs, 6 Hill, 438, and cases.
The effect of such an assignment is to withdraw the property of the debtor from…
2Cases cited1 opinion
- Jackson ex dem. Varick v. WaldronCourt for the Trial of Impeachments and Correction of Errors · 1834
3Cited by31 opinions
- Winner v. HoytWisconsin Supreme Court · 1886
- Huntley v. KingmanSupreme Court of the United States · 1894
- Brewster Shirt Corp. v. CommissionerCourt of Appeals for the Second Circuit · 1947
- Delaney v. . ValentineNew York Court of Appeals · 1898
- Didier v. PattersonSupreme Court of Virginia · 1896
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