Holt & Chambers v. Bancroft
Supreme Court of Alabama
Appeal from the Chancery Court of Montgomery. Heard, before the Hon. Wade Keyes. The material facts of this case are these: Holt & Chambers, a mercantile firm in the city of Montgomery, becoming insolvent, and having suits for large amounts pending against them, which were soon afterwards reduced to judgment, executed a deed of trust on the 9th May, 1854, on about one third of their stock of goods, to David Owen as trustee, to secure Alexander Chambers on a debt which they…
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Appeal from the Chancery Court of Montgomery. Heard, before the Hon. Wade Keyes. The material facts of this case are these: Holt & Chambers, a mercantile firm in the city of Montgomery, becoming insolvent, and having suits for large amounts pending against them, which were soon afterwards reduced to judgment, executed a deed of trust on the 9th May, 1854, on about one third of their stock of goods, to David Owen as trustee, to secure Alexander Chambers on a debt which they then owed him, and against liability on certain accommodation endorsements for them. At the time this conveyance was…
1Opinion of the CourtWalker, J.
It is conceded that the second deed executed by Holt & Chambers, dated the 17th May, 1854, was a conveyance of all their property, including that embraced in the first deed, to secure their creditors generally. This conveyance has been properly treated, by the counsel on both sides, as a general assignment. Burrill on Assignments, 82; Dana v. Lull, 17 Yermont, 890.
Section 1556 of the Code is in the following words: “Every general assignment made by a debtor, by which a preference, or priority of payment, is given to one or more creditors over the remaining creditors of the grantor, shall be…
2Cases cited18 opinions
- United States v. Hooe Et Al.Supreme Court of the United States · 1805
- Dickerson v. TillinghastNew York Court of Chancery · 1833
- Padgett v. LawrenceNew York Court of Chancery · 1843
- Pharis v. LeachmanSupreme Court of Alabama · 1852
- Governor v. CampbellSupreme Court of Alabama · 1850
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3Cited by42 opinions
- Case v. BeauregardSupreme Court of the United States · 1880
- Preston v. SpauldingIllinois Supreme Court · 1887
- Crawford v. KirkseySupreme Court of Alabama · 1876
- Merchants' National Bank v. GreenhoodMontana Supreme Court · 1895
- Security Savings & Trust Co. v. Portland Flour Mills Co.Oregon Supreme Court · 1927
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