Wilson v. . Robertson
New York Court of Appeals
Appeal from the Supreme Court. The plaintiffs brought their action, as judgment creditors of the firm of Crocker & Staples (consisting of the defendants, Jonathan D. Crocker and Abraham Staples), to have set aside, as fraudulent and void, an assignment in trust for creditors, giving preferences, executed on the 17th June, I860, by said firm to the defendants William P. Bobertson and John S. Crocker.
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Appeal from the Supreme Court. The plaintiffs brought their action, as judgment creditors of the firm of Crocker & Staples (consisting of the defendants, Jonathan D. Crocker and Abraham Staples), to have set aside, as fraudulent and void, an assignment in trust for creditors, giving preferences, executed on the 17th June, I860, by said firm to the defendants William P. Bobertson and John S. Crocker. The grounds alleged for declaring the assignment fraudulent were, first, its authorizing a sale of the estate on credit; second, providing for the payment, from the assets of the firm, of private…
1Opinion of the CourtWright, J.
An assignment by an insolvent debtor of his property to trustees for the benefit of creditors, which expressly authorizes them to sell the property upon credit, is void as against the creditors of the assignor. (Barney v. Griffin, 2 Comst., 365; Nicholson v. Leavitt, 2 Seld., 510.) But an assignment will not be construed as conferring this authority when its language is consistent with a different interpretation which makes it legal and valid. In Kellogg v. Slauson (1 Kern., 302), the authority to sell was conferred in the precise language of the assignment in question; yet the assignment in…
2Cases cited1 opinion
- Whitney v. KrowsNew York Supreme Court · 1851
3Cited by61 opinions
- Menagh v. . WhitwellNew York Court of Appeals · 1873
- Saunders v. . ReillyNew York Court of Appeals · 1887
- Pritchett v. Pollock & Co.Supreme Court of Alabama · 1886
- Bernheimer v. . RindskopfNew York Court of Appeals · 1889
- Peyser v. . MyersNew York Court of Appeals · 1892
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