Phippen v. Durham
Supreme Court of Virginia
On the 12th of May 1837, John Durham, a boot and shoe maker residing in the city of Richmond, having been sued for a debt which he considered he did not owe, and apprehending that a judgment might be recovered against him during the term of the Court which *had then commenced, ex- . ecuted a deed of trust on his property for the benefit of his other creditors by n ame: providing in the deed, however, that no creditor who should not within thirty days from its date, signify…
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On the 12th of May 1837, John Durham, a boot and shoe maker residing in the city of Richmond, having been sued for a debt which he considered he did not owe, and apprehending that a judgment might be recovered against him during the term of the Court which *had then commenced, ex- . ecuted a deed of trust on his property for the benefit of his other creditors by n ame: providing in the deed, however, that no creditor who should not within thirty days from its date, signify his assent to, and acceptance of, its terms and conditions, and further agree to release and acquit the said Durham from…
1Opinion of the Court
MONCURE, J.,
after stating the case, proceeded:
If the question were res integra, “Whether a deed of trust conveying all the property of a debtor for the benefit of such of his creditors as may within a specified time release him from all further claims; and providing that the surplus of the trust fund after satisfying the accepting creditors should be paid to the debtor, is valid against the creditors who do not accept?” I would be inclined to answer it in the negative. While the many cases on this subject are conflicting, I think the preponderance is against the validity of such a deed. The…
2Cases cited588 opinions
- McCready v. VirginiaSupreme Court of the United States · 1877
- Williamson v. JonesWest Virginia Supreme Court · 1897
- Eisenbach v. HatfieldWashington Supreme Court · 1891
- Slack v. JacobWest Virginia Supreme Court · 1875
- Crislip v. CainWest Virginia Supreme Court · 1882
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