Tapp v. Williams
Supreme Court of Arkansas
Appeal from Union Circuit Court; Charles W. Smith, Judge; STATEMENT BY THU COURT. Tapp, Leathers & Company sued the firm of Williams & Pratt in the Union 'Circuit Court on account for $573.20. The defendants, Williams & Pratt, answered, denying that they were indebted to appellants in any sum, and set up by way of defense the following: “That they, being in failing circumstances and insolvent, notified the plaintiffs and all others of the defendants’ creditors of defendants’…
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Appeal from Union Circuit Court; Charles W. Smith, Judge; STATEMENT BY THU COURT. Tapp, Leathers & Company sued the firm of Williams & Pratt in the Union 'Circuit Court on account for $573.20. The defendants, Williams & Pratt, answered, denying that they were indebted to appellants in any sum, and set up by way of defense the following: “That they, being in failing circumstances and insolvent, notified the plaintiffs and all others of the defendants’ creditors of defendants’ condition, and offered to make full surrender to R. G. Harper, as trustee, of all their property for the benefit of…
1Opinion of the Court
Wood, J.,
(after stating the facts). The answer of the defendants in the original suit and the proof in the case show that the instrument under which Harper, appellee, took possession of the assets was intended by its makers, the judgment debtors, as an assignment for the benefit of creditors. The proof shows that the debtors, the defendants in the original suit,"intended by the instrument they executed to Harper, and under which he took possession of the assets, to transfer their property absolutely to the trustee, Harper, for the purpose of raising a fund to pay their debts. There were no…
2Cases cited2 opinions
- Richmond v. Mississippi MillsSupreme Court of Arkansas · 1889
- McFalls v. StateSupreme Court of Arkansas · 1898
3Cited by2 opinions
- State National Bank v. Wheeler-Motter Mercantile Co.Supreme Court of Arkansas · 1912
- Brown v. WilkesSupreme Court of Arkansas · 1922