Hall v. Wager
U.S. Circuit Court for the District of Western Wisconsin
This was a suit in equity brought by Augustus O. Hall, assignee of Leonard Lakin, bankrupt, to set aside a mortgage given by the bankrupt to the defendants Wager & Fales, on the ground that it was void under the bankrupt act.
Read the full summary
This was a suit in equity brought by Augustus O. Hall, assignee of Leonard Lakin, bankrupt, to set aside a mortgage given by the bankrupt to the defendants Wager & Fales, on the ground that it was void under the bankrupt act. The mortgage was for $3,000, dated December 15th, 1869, and was given to secure a debt of that amount owing by Lakin to the firm of Wager & Fales for balance due for. stoves sold by them in 1867. The stoves were originally sold on four months time, and the debt had been for some time past due before the giving of this mortgage. Five notes for $600 each were then…
1Opinion of the Court
HOPKINS, District Judge.
Mr Lakin was,, beyond all question, I think, insolvent, and had been so for over two years when he gave the mortgage to defendants, although he-swears he did not suppose he was, but, on the contrary, he thought he was worth $10,000 over and above all his debts. Soon after giving the mortgage, his other creditors instituted an investigation into his affairs, and it was made apparent that he was insolvent. He-then attempted to compromise, but failed to-accomplish it; and on the 8th of January,. 1870, twenty-four days after giving this mortgage, he filed his petition in…
2Cases cited3 opinions
- Seaver v. SpinkIllinois Supreme Court · 1872
- Winslow v. GiffordMassachusetts Supreme Judicial Court · 1850
- Gilbert v. PriestNew York Supreme Court · 1873