Dilworth v. Federal Reserve Bank

If the opinion in chief in this case had rested entirely upon its main feature, namely, that the Federal Reserve Bank, under the present facts before us, was not a purchaser in good faith, for value, before maturity, I might have been in accord with the holding of the court; but from that part of the opinion which seems to go further and to say that, even if a purchaser in good faith, for value, before maturity, the doctrine of marshaling of assets may be enforced by its debtor against such a purchaser, I dissent.

The doctrine of marshaling is well settled and is well understood; it has its…