Sabin v. Columbia Fuel Co.
Oregon Supreme Court
Appeal from Multnomah.: Loyal B. Stearns, Judge. This suit was brought by R. L. Sabin, in behalf of himself and other unsecured creditors who might -join with him, against the Columbia River Lumber & Fuel Company, a corporation, the Commercial National Bank, James F. Watson, trustee, Borthwick & Fraine, partners, and H. B. Borthwick, C. W. Knowles, and D. J. Moore, to set aside certain real and chattel mortgages given by the Columbia River Lumber & Fuel Company to Watson, as…
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Appeal from Multnomah.: Loyal B. Stearns, Judge. This suit was brought by R. L. Sabin, in behalf of himself and other unsecured creditors who might -join with him, against the Columbia River Lumber & Fuel Company, a corporation, the Commercial National Bank, James F. Watson, trustee, Borthwick & Fraine, partners, and H. B. Borthwick, C. W. Knowles, and D. J. Moore, to set aside certain real and chattel mortgages given by the Columbia River Lumber & Fuel Company to Watson, as trustee, to secure the sum of fifty thousand dollars due the Commercial National Bank, and also to set aside an…
1Opinion of the Court
Opinion by
Mb. Justice Bean.
The contention for the plaintiff is that the mortgages show on their face that they were made for the benefit of the mortgagor, and were designed to be used as a shield between the corporation and its unsecured creditors, while it prosecuted its business for an indefinite time. It is undoubtedly true that where a mortgage is designed and made for the benefit of the mortgagor, and to enable him to continue in business by placing his property beyond the reach of legal process, it is void as to creditors, although it may be intended in good faith for the ultimate…
2Cases cited12 opinions
- United States v. Hooe Et Al.Supreme Court of the United States · 1805
- Hodges Bros. v. Coleman & CarrollSupreme Court of Alabama · 1884
- Shelley v. BootheSupreme Court of Missouri · 1880
- Pollock v. MeyerSupreme Court of Alabama · 1892
- First National Bank v. Lowrey Bros.Nebraska Supreme Court · 1893
7 more not listed; retrieve them via the Exa API.
3Cited by28 opinions
- Public Market Co. v. City of PortlandOregon Supreme Court · 1942
- Coder v. ArtsCourt of Appeals for the Eighth Circuit · 1907
- In re Julius Bros.Court of Appeals for the Second Circuit · 1914
- Sargent v. BlakeCourt of Appeals for the Eighth Circuit · 1908
- Jolly v. KyleOregon Supreme Court · 1895
23 more not listed; retrieve them via the Exa API.