Schufeldt v. Smith
Supreme Court of Missouri
Appeal from Buchanan Circuit Court. — Hon. H. M. Bamey, Judge. A corporation in the transaction of its business, though embarrassed, can convey its assets by way of deed of trust, making a preference among its creditors. 2 Kent’s Com. 315, note g., and also 281; Cook on Corp. [2. Ed.] 691. Angelí ¿Ames on Corp. [Í1 Ed.] 187; 1 Beach on Priv.
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Appeal from Buchanan Circuit Court. — Hon. H. M. Bamey, Judge. A corporation in the transaction of its business, though embarrassed, can convey its assets by way of deed of trust, making a preference among its creditors. 2 Kent’s Com. 315, note g., and also 281; Cook on Corp. [2. Ed.] 691. Angelí ¿Ames on Corp. [Í1 Ed.] 187; 1 Beach on Priv. Corp. 358; 2 Potter on Corp. 695; Burrillon Assignments [5 Ed.], 64; St. Louis v. Alexander, 23 Mo. 483; Kitchen v. Railroad, 69 Mo. 224; Shockley v. Fisher, 75 Mo. 498; Foster v. Mullanphy Co., 92 Mo. 79; Larrabeev. Bank, 114 Mo. 592; Alberger v. Bank,…
1Opinion of the CourtMacfarlane, J.
This suit is to set aside a certain deed of trust, executed on the eighteenth day of March, 1893, by the James Walsh Mercantile Company, a business corporation, to defendant, J. Francis Smith, as trustee, to secure its creditors in the order therein named. The deed was executed in pursuance of this resolution of the board of directors:
*284“Whereas, This corporation is unable to meet its obligations as they fall due, though its assets are much more than its liabilities;
“Resolved, That in order to more economically dispose of such portion of its assets as may be necessary to pay its debts than…
2Cases cited7 opinions
- Hill v. Rich Hill Coal Mining Co.Supreme Court of Missouri · 1893
- Foster v. Mullanphy Planing Mill Co.Supreme Court of Missouri · 1887
- Hart v. LeeteSupreme Court of Missouri · 1891
- Alberger v. National Bank of CommerceSupreme Court of Missouri · 1894
- Riley v. VaughanSupreme Court of Missouri · 1893
2 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- Commerce Trust Co. v. WoodburyCourt of Appeals for the Eighth Circuit · 1935
- Coleman v. HageySupreme Court of Missouri · 1913
- Levering v. BimelIndiana Supreme Court · 1897
- Nappanee Canning Co. v. Reid, Murdoch & Co.Indiana Supreme Court · 1902
- Shields v. HobartSupreme Court of Missouri · 1903
14 more not listed; retrieve them via the Exa API.