Haggerty v. Palmer
New York Court of Chancery
BILL for an injunction, filed June 13th, 1822, The material facts were admitted in the answer. The plaintiffs, on the 23d and 27th of May last, sold at auction, to the defendant, Palmer, a quantity of goods¿ to be paid in approved indorsed notes at four and six months. It is the usage in JVcro- Yorlc, where goods are sold afanetion for approved notes, to deliver the goods to the buyer when called for, and to send for the notes afterwards.
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BILL for an injunction, filed June 13th, 1822, The material facts were admitted in the answer. The plaintiffs, on the 23d and 27th of May last, sold at auction, to the defendant, Palmer, a quantity of goods¿ to be paid in approved indorsed notes at four and six months. It is the usage in JVcro- Yorlc, where goods are sold afanetion for approved notes, to deliver the goods to the buyer when called for, and to send for the notes afterwards. The g00£]s were accordingly delivered to Palmer, and on the first of June, the plaintiffs sent for the notes, according to the terms of sale, when it was…
1Opinion of the Court
The Chancellor.
Upon this ease, I am of opinion, that the defendants must account for those proceeds to the plaintiffs. The delivery of the goods was conditional, and taken by the defendant, P., as a trustee for the plaintiffs, until the delivery of the notes. The voluntary assignment and delivery of these goods, in the character of an insolvent debtor, to J. 8f H, to pay other creditors, was an act of fraud, and ought not to deprive the plaintiffs of their equitable lien, in a case where there is no intervening claim of a purchaser for valuable consideration. If the goods had been fairly sold…
2Cited by22 opinions
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- Michigan Central Railroad v. PhillipsIllinois Supreme Court · 1871
- Smith v. . LynesNew York Court of Appeals · 1851
- Brundage v. CampIllinois Supreme Court · 1859
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