Jones, McDowell & Co. v. Ark. Mech. & Agl. Co.
Supreme Court of Arkansas
APPEAL from Pulaski Chancery Court. Hon. J. R. Eakin, Chancellor. “"While the law permits an insolvent debtor to make choice of the persons he will pay, it denies him the right in doing it to contrive that other creditors shall never be paid, or to use the debt of the preferred creditor as a colorable consideration to screen and protect his property from their claims, or to delay,. hinder and embarrass them in the enforcement of their demands.” Bump. Fraud.
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APPEAL from Pulaski Chancery Court. Hon. J. R. Eakin, Chancellor. “"While the law permits an insolvent debtor to make choice of the persons he will pay, it denies him the right in doing it to contrive that other creditors shall never be paid, or to use the debt of the preferred creditor as a colorable consideration to screen and protect his property from their claims, or to delay,. hinder and embarrass them in the enforcement of their demands.” Bump. Fraud. Gonv., 189; Gook v. Gook, 43 Md., 522; Young v. Hermans, 66 N. Y., 374. Any secret trust in favor of the Association or its stockholders…
1Opinion of the Court
STATEMENT.
W. W. Smith, S. J.
The Arkansas Agricultural and Mechanical Association, a corporation organized under the laws of this State, had purchased of William B. Wait, a tract of laud near Little Rock, afterwards known as the Fair Grounds, and a balance of purchase money remaining unpaid, Wait had obtained a decree therefor, with the usual order of foreclosure and sale. Hunter, clerk and master of the Pulaski Chancery Court, was charged with the execution of the decree, with directions, in the event of sale, to apply the proceeds to the payment of the debt, interest and costs of suit, and…
2Cases cited9 opinions
- Twin-Lick Oil Co. v. MarburySupreme Court of the United States · 1876
- Sanger v. UptonSupreme Court of the United States · 1875
- Wood v. DummerU.S. Circuit Court for the District of Maine · 1824
- Mumma v. Potomac Co.Supreme Court of the United States · 1834
- Hatch v. DanaSupreme Court of the United States · 1880
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3Cited by20 opinions
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- Plummer v. School District Number 1Supreme Court of Arkansas · 1909
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- Good v. Ferguson & Wheeler Land, Lumber & Handle Co.Supreme Court of Arkansas · 1913
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