McArthur v. Chase
Supreme Court of Virginia
In May 1848 John E. Penman and Daniel Penman purchased of James Bean two tracts of land in the county of Frederick, for which they were to pay him ten thousand dollars; four thousand dollars to be paid on the 1st of December following, and the balance of six thousand dollars was to be paid in four equal annual payments, with interest from the last date. The object of this purchase was to establish a furnace for the making of iron.
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In May 1848 John E. Penman and Daniel Penman purchased of James Bean two tracts of land in the county of Frederick, for which they were to pay him ten thousand dollars; four thousand dollars to be paid on the 1st of December following, and the balance of six thousand dollars was to be paid in four equal annual payments, with interest from the last date. The object of this purchase was to establish a furnace for the making of iron. On the first day of June in the same year a partnership was entered into between the two Penmans and Richard Thompson, under the name and style of Penman, Thompson…
1Opinion of the CourtDaniel, J.
The first assignment of error raises the question as to the validity of the deed of trust of April 6th, 1850, made for the benefit of William McArthur & Co.
*691The 20th section of the act of 29th March 1837, concerning limited partnerships, declares that every sale, assignment or transfer of any property or of such partnership made by such partnership, when insolvent or in contemplation of insolvency, or after or in contemplation of the insolvency of any partner, with the intent of giving a preference to any creditor of such partnership or insolvent partner, over other creditors of such…
2Cases cited1 opinion
- Niday v. Harvey & Co.Supreme Court of Virginia · 1852
3Cited by16 opinions
- Miller v. WillsSupreme Court of Virginia · 1897
- Walters v. Farmers BankSupreme Court of Virginia · 1881
- Wolf v. McGuginWest Virginia Supreme Court · 1893
- Woodward v. FosterSupreme Court of Virginia · 1868
- Dillard v. CollinsSupreme Court of Virginia · 1874
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