Townsend v. . Stearns
New York Court of Appeals
The action was in the nature of a creditor’s bill, to set aside a general assignment, executed by Steams, Hutchinson & Co., a mercantile firm in the city of Hew York. It was claimed by the plaintiff that the assignment was fraudulent upon its face, and also that it was fraudulent in fact.
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The action was in the nature of a creditor’s bill, to set aside a general assignment, executed by Steams, Hutchinson & Co., a mercantile firm in the city of Hew York. It was claimed by the plaintiff that the assignment was fraudulent upon its face, and also that it was fraudulent in fact. On the question of fact issues were framed in the Superior Court, and the jury found that the instrument was executed without intent- to hinder, defraud or delay the creditors of the assignor. The court adjudged that the assignment was not fraudulent upon its face. A question was also raised as to a…
1Opinion of the CourtPorter, J.
The assignors are vindicated by the verdict from all imputations of actual fraud. Their purpose was to pay their creditors, and not to hinder them. They relinquished all their property, reserving no benefit to themselves, and devoting it unconditionally to the payment of their debts. The object of the trust was lawful, and the instrument by which it was created should be upheld, unless it is corrupted by some provision plainly illegal.
It is claimed that the assignment is defeated by a clause in the declaration of trust, providing that the assignee shall convert the property into money, with…
2Cases cited11 opinions
- Dunham v. . WatermanNew York Court of Appeals · 1858
- Murray v. RiggsCourt for the Trial of Impeachments and Correction of Errors · 1818
- Nichols v. . McEwenNew York Court of Appeals · 1858
- Jessup v. . HulseNew York Court of Appeals · 1860
- Dow v. . PlatnerNew York Court of Appeals · 1858
6 more not listed; retrieve them via the Exa API.
3Cited by14 opinions
- Coyne v. . WeaverNew York Court of Appeals · 1881
- Ellis H. Roberts & Co. v. BuckleyNew York Court of Appeals · 1895
- Wright v. LeeSouth Dakota Supreme Court · 1893
- Rochester v. SullivanArizona Supreme Court · 1886
- Landauer v. ConklinSouth Dakota Supreme Court · 1893
9 more not listed; retrieve them via the Exa API.