Graeff's Appeal
Supreme Court of Pennsylvania
Appeals from tbe decree of the Court of Common Pleas of Lebanon county: No. 102 and 129, to May Term 1875. In the distribution of the estate of John A. Smeid, assigned for the benefit of his creditors. On the 12th of April 1873, Smeid made an assignment of his real and personal estate for the benefit of his creditors.
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Appeals from tbe decree of the Court of Common Pleas of Lebanon county: No. 102 and 129, to May Term 1875. In the distribution of the estate of John A. Smeid, assigned for the benefit of his creditors. On the 12th of April 1873, Smeid made an assignment of his real and personal estate for the benefit of his creditors. At the date of the assignment Moses K. Graeff held judgments which were liens on Smeid’s real estate, viz.:— 1. Judgment (of revival) No. 21 to August Term 1873 for $3000. 2. No. 232 to April Term 1871 for $1000. 3. No. 99 to November Term 1872 for $4700. On executions issued by…
1Opinion of the CourtJustice Sharswood
We cannot agree in opinion with the learned judge below, that to state the proposition upon which the appellants rest their case is to answer it. That proposition properly stated is, that the assignment of John A. Smeid and wife, on July 12th 1873, was in trust for all his creditors then existing, pro rat&, without regard to the nature of the securities they held. So far as regards the assigned estate, they were no longer creditors, but equitable owners. Graeff was not an equitable owner of as many separate shares as he had distinct debts. His interest was to the e'xtent of his whole claim on…
2Cited by8 opinions
- Fulton's EstateSuperior Court of Pennsylvania · 1917
- Matter of Adrian Research and Chemical Co., Inc., Bankrupt, William M. KirkpatrickCourt of Appeals for the Third Circuit · 1959
- In re E. Bement's SonsMichigan Supreme Court · 1907
- Chambersburg Trust Co. v. AlexanderSuperior Court of Pennsylvania · 1931
- Assigned Estate of Boltz, Pennsylvania Court of Common Pleas, Lebanon County1890
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