Farwell & Co. v. Howard & Co.
Supreme Court of Iowa
Appeal from Des Moines District Court. Agency : garnishment : liability op garnishee, etc. — • The plaintiffs, creditors of one Brigham Bead, garnished the defendants, Howard & Co., claiming that they had in their possession goods belonging to Bead. Plaintiff’s suit against Bead was commenced by attachment, Jwne 4, 1866, and the process of garnishment served on Howard & Co. the same day.
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Appeal from Des Moines District Court. Agency : garnishment : liability op garnishee, etc. — • The plaintiffs, creditors of one Brigham Bead, garnished the defendants, Howard & Co., claiming that they had in their possession goods belonging to Bead. Plaintiff’s suit against Bead was commenced by attachment, Jwne 4, 1866, and the process of garnishment served on Howard & Co. the same day. In September, 1867, the garnishees answered denying all liability to the plaintiff, or that they have had possession of any property belonging to Bead except as stated. The answer then alleges, in substance,…
1Opinion of the Court
Dillon, Ch. J.
1. Assignment for benefit of creditors: mortgage: — I. Was the mortgage to the garnishees void because it amounted to a general assignment with preferences ? That Howard & Co. were bona fi&e creditors of Read is not denied. That their mortgage was taken in good faith is to be presumed, there being no evidence to the contrary. It is not even shown that they knew that Read had any other creditors. All question of actual fraud is out of the case.
The instrument is, and purports to be, a mortgage and not an assignment, and it is not void as being in contravention of the statute. Rev.…
2Cases cited2 opinions
- Lampson v. ArnoldSupreme Court of Iowa · 1865
- Smith, Twogood & Co. v. Clarke & HenleySupreme Court of Iowa · 1859
3Cited by12 opinions
- Davis v. SchwartzSupreme Court of the United States · 1895
- Union Bank of Chicago v. Kansas City BankSupreme Court of the United States · 1890
- Gilbert v. McCorkleIndiana Supreme Court · 1887
- South Branch Lumber Co. v. OttSupreme Court of the United States · 1892
- St. Louis Gunning Advertising Co. v. Wanamaker & BrownMissouri Court of Appeals · 1905
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