First National Bank v. Smith
Massachusetts Supreme Judicial Court
Bill in equity, filed May 17, 1880, against Charles F. Smith, Caleb H. Warner, Thomas Upham, all of this Commonwealth, and John W. Draper, formerly of this Commonwealth, but now a resident of the State of Texas, alleging that, on August 17,1875, the Hickory Coal Company made a promissory note for $5000, payable in four months after date to its own order, which it indorsed, and that the note before its maturity was indorsed by the defendants Upham and Draper, and became the…
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Bill in equity, filed May 17, 1880, against Charles F. Smith, Caleb H. Warner, Thomas Upham, all of this Commonwealth, and John W. Draper, formerly of this Commonwealth, but now a resident of the State of Texas, alleging that, on August 17,1875, the Hickory Coal Company made a promissory note for $5000, payable in four months after date to its own order, which it indorsed, and that the note before its maturity was indorsed by the defendants Upham and Draper, and became the property of the plaintiff; that at its maturity the plaintiff, being the holder thereof for value, duly demanded payment…
1Opinion of the CourtDevens, J.
If we assume, in favor of the plaintiff, that the assignment to trustees was one to the benefit of which any creditor of Upham and Draper was entitled, the question is jaot, as stated by the plaintiff, whether a creditor, who has not executed a trust assignment within the time specified, can be allowed, under any circumstances, to come and sign after the time has elapsed, he having failed to execute the same because of accident, mistake or want of notice. The assignment to trustees was not an assignment of property simply for the benefit of creditors, of which they were entitled to avail…
2Cases cited2 opinions
- Hall v. McLeodCourt of Appeals of Kentucky · 1859
- National Mechanics' & Traders' Bank v. Eagle Sugar RefineryMassachusetts Supreme Judicial Court · 1871
3Cited by3 opinions
- National Union Bank v. CopelandMassachusetts Supreme Judicial Court · 1886
- Sawyer v. LevyMassachusetts Supreme Judicial Court · 1894
- National Bank of Commerce v. BaileyMassachusetts Supreme Judicial Court · 1901