Clark v. Iselin
Supreme Court of the United States
On appeal and cross-appeal from the Circuit Court for the Southern District of New York. Clark, assignee in bankruptcy of Dibblee & Co., filed a bill in the District Court of. the district just named against Iselin & Co., to recover certain assets which the bill charged were made over to them in fraud of the Bankrupt law; an act whose thirty-fifth section is in these words: “If any person, being insolvent, or in contemplation of insolvency, within four months before the…
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On appeal and cross-appeal from the Circuit Court for the Southern District of New York. Clark, assignee in bankruptcy of Dibblee & Co., filed a bill in the District Court of. the district just named against Iselin & Co., to recover certain assets which the bill charged were made over to them in fraud of the Bankrupt law; an act whose thirty-fifth section is in these words: “If any person, being insolvent, or in contemplation of insolvency, within four months before the filing of the petition by or against him, with a view to give a preference to any creditor, or person having a claim against…
1Opinion of the CourtJustice Strong
It is argued by the counsel for the assignee that the return to Dibblee & Co. for collection of the notes transferred to secure the loan of August 6th, 1868, for $61,000, destroyed the title of Iselin & Co. to them. The notes, however, were returned to Dibblee & Co. for convenience of collection, to be collected for account of the defendants or to be replaced by others.
Obviously this deposit in- no degree affected the title of the defendants to the notes. It merely facilitated collections. In White v. Platt, * it was said by the court that “ where promissory notes are pledged by a debtor to…
2Cases cited1 opinion
- White & Williams v. PlattNew York Supreme Court · 1848
3Cited by96 opinions
- Benedict v. RatnerSupreme Court of the United States · 1925
- Casey v. CavarocSupreme Court of the United States · 1878
- Stewart v. PlattSupreme Court of the United States · 1879
- Commercial National Bank v. Canal-Louisiana Bank & Trust Co.Supreme Court of the United States · 1916
- In re RichardsCourt of Appeals for the Seventh Circuit · 1899
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