Peoples Credit Clothing Co. v. Old Colony Insurance

A creditors’ bill was filed against the plaintiff corporation and the holders of its capital stock, who were husband and wife. Personal service was perfected upon each of the stockholders, and upon the corporation by service upon its president. In settlement of this litigation a bill of sale to secure debt was executed in the name of the corporation, signed by its president, to a named person as trustee for the creditors, covering the entire stock of goods and fixtures of the plaintiff corporation, which operated a clothing store. The bill of sale was properly recorded in the county where the…