Bayard v. Hoffman
New York Court of Chancery
WILLIAM OGDEN\ one of the firm of Murray Ogden, purchased public stock of the United States, to the amount of 11,979 dollars and 22 cents, with his own monies, derived from his wife’s estate. The house of M. O. were utterly insolvent, when the purchase was made, and the interest of the stock was pledged to Mrs. Murray, his wife’s mother, for life, and the stock was placed under her control, the better to secure the payment of that interest.
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WILLIAM OGDEN\ one of the firm of Murray Ogden, purchased public stock of the United States, to the amount of 11,979 dollars and 22 cents, with his own monies, derived from his wife’s estate. The house of M. O. were utterly insolvent, when the purchase was made, and the interest of the stock was pledged to Mrs. Murray, his wife’s mother, for life, and the stock was placed under her control, the better to secure the payment of that interest. After-wards, on the 10th of May, 1817, the stock was voluntarily, or without any valuable consideration, assigned by Ogden, so far as respected his…
1Opinion of the Court
The Chancellob.
The only difficulty in this case, arises from the nature or quality of the property contained in the settlement. It is the declared rule of the, Court, [Reade v. Ldvingston, 3 Johns. Ch. Rep. 481.) that a voluntary settlement by a person indebted at the time, is void, as- against antecedent creditors; 1 consider the principle as equally applying, whether the property consists of lands or chattelsand that the creditor may follow the property into the hands of the volunteer. This is admitted to be the general rule, but, as an exception, it is stated, (Atherley on Marriage…
2Cases cited1 opinion
- Reade v. LivingstonNew York Court of Chancery · 1818
3Cited by26 opinions
- Hadden v. SpaderCourt for the Trial of Impeachments and Correction of Errors · 1822
- O'Brien v. CoulterIndiana Supreme Court · 1831
- Keightley v. WallsIndiana Supreme Court · 1866
- Taylor v. GilleanTexas Supreme Court · 1859
- Schaller v. WrightSupreme Court of Iowa · 1886
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