McCormick v. Union Farmers State Bank
North Dakota Supreme Court
Action in District court, Morton county, Pugh, J. Plaintiff has appealed from a judgment and has demanded a trial de novo. “The law provides that in order that a payment shall be voidable as a preference, it is necessary that a creditor should have been insolvent at the time it was made.” 7 C. J. Bankruptcy, p. 150, § 247, and authorities cited.
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Action in District court, Morton county, Pugh, J. Plaintiff has appealed from a judgment and has demanded a trial de novo. “The law provides that in order that a payment shall be voidable as a preference, it is necessary that a creditor should have been insolvent at the time it was made.” 7 C. J. Bankruptcy, p. 150, § 247, and authorities cited. “The Courts have held that the petition filed is competent evidence to prove the insolvency of the bankrupt at any time within the four months to the filing thereof.” Utah Credit Association v. Boyle Furniture Co. 26 Am. Bank. Rep. 867. “To establish…
1Opinion of the Court
Statement.
Bronson, J.
On January 23, 1918, Max Schultze filed a voluntary petition in bankruptcy. Prior thereto, on October 23, 1917, he and one Goeschel had made a. written agreement, which provides that the balance due upon the purchase price of two sections of land in -Montana, namely, $2,050, should be deposited in the First National- Bank of New Salem, now reorganized as the defendant bank, that $400 out of such deposit should be paid to one Pierson, and the remainder to the intervener herein dependent upon the determination of litigation, then pending in Montana, concerning the lands.…
2Cases cited7 opinions
- Stavens v. National Elevator Co.North Dakota Supreme Court · 1917
- Novak v. LovinNorth Dakota Supreme Court · 1916
- Richards v. Northern Pacific Railway Co.North Dakota Supreme Court · 1919
- Barnum v. Gorham Land Co.North Dakota Supreme Court · 1904
- St. Anthony & Dakota Elevator Co. v. MartineauNorth Dakota Supreme Court · 1915
2 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Gotchy v. North Dakota Workmen's Compensation BureauNorth Dakota Supreme Court · 1923
- Andersen v. ReslerNorth Dakota Supreme Court · 1929
- Hartung v. ManningNorth Dakota Supreme Court · 1923
- Citizens State Bank v. GeisenNorth Dakota Supreme Court · 1924
- State Bank v. SchultzeNorth Dakota Supreme Court · 1924
7 more not listed; retrieve them via the Exa API.