Monaghan Bay Co. v. Dickson
Supreme Court of South Carolina
Before Frasee, J., Oconee, July, 1892. Action by Monaghan Bay Company against John D. Dickson and others, commenced April, 1890. Defendants, judgment creditors of Dickson, appealed.
1Opinion of the Court
The opinion of the court was delivered by
Mr. Justice McGowan.
It appears that on April 18,1890, the defendant, John D. Dickson, being embarrassed, and not able to pay all his creditors, some of whom were pressing for security, submitted a proposition as follows, viz: to pay thirty per cent, cash, and to execute a mortgage of his real estate to secure the remainder, to be due and payable, one-half on November 15, 1890, and the other half on February 15, 1891; that all the creditors (except Ab. Kirschman & Co. and Carroll, Adams & Co.) agreed to the proposition, and accordingly Dickson paid…
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