Homer v. National Bank of Commerce in St. Louis
Supreme Court of Missouri
Appeal from St. Louis City Circuit Court. — Hon. James E. Withrow, Judge. (1) An assignee for the benefit of creditors takes the assigned estate subject to all tbe equities existing at the time of the assignment; his rights are no greater than were those of the assignor. Peet v. Spencer, 90 Mo. 388; State v. Bowse, 49 Mo. 593; Jacobi v. Jacobi, 101 Mo. 507; Green v. Conrad, 114 Mo. 664. (2) Insolvency creates an equitable right of set off where it would not otherwise exist.
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Appeal from St. Louis City Circuit Court. — Hon. James E. Withrow, Judge. (1) An assignee for the benefit of creditors takes the assigned estate subject to all tbe equities existing at the time of the assignment; his rights are no greater than were those of the assignor. Peet v. Spencer, 90 Mo. 388; State v. Bowse, 49 Mo. 593; Jacobi v. Jacobi, 101 Mo. 507; Green v. Conrad, 114 Mo. 664. (2) Insolvency creates an equitable right of set off where it would not otherwise exist. Foote v. Clark, 102 Mo. 394; Field v. Oliver, 43 Mo. 200; Fulkerson v. Davenport, 70 Mo. 417; Barnes v. McMullins, 78…
1Opinion of the CourtBurgess, J.
This action is prosecuted by plaintiff, as the assignee of Bipley & Bronson, to recover the sum of $5,691.52 which amount the assignors had on deposit to their credit with the defendant bank upon the day when said firm executed a deed of assignment to plaintiff for the benefit of creditors, to wit, July 24, 1893.
The answer admits that at the time of the assignment by Bipley & Bronson they had on deposit with defendant to their credit, $5,691.52; but by way of defense, sets up that at .the time of said assignment Bip-ley & Bronson were grossly insolvent and in an embarrassed condition; that…
2Cases cited17 opinions
- Jordan v. . National Shoe and Leather BankNew York Court of Appeals · 1878
- Myers v. . DavisNew York Court of Appeals · 1860
- Smith v. . FeltonNew York Court of Appeals · 1871
- Spaulding v. BackusMassachusetts Supreme Judicial Court · 1877
- Beckwith v. . the Union Bank of New-YorkNew York Court of Appeals · 1853
12 more not listed; retrieve them via the Exa API.
3Cited by11 opinions
- National Bank of Commerce v. RipleySupreme Court of Missouri · 1901
- Horigan Realty Co. v. First National BankMissouri Court of Appeals · 1925
- Storts v. GeorgeSupreme Court of Missouri · 1899
- Dalton v. Sturdivant BankMissouri Court of Appeals · 1934
- Reitz v. HaywardMissouri Court of Appeals · 1903
6 more not listed; retrieve them via the Exa API.