Ahlo v. Tai Lung

*273Opinion op the Court, by

Judd, C.J.

This is an action of assumpsit to recover the balance due on a promissory note payable on demand made by Tai Lung Co. in favor of L. Ahlo for $764.20, dated the 2d-April, 1883. It appears that on the 14th June, 1885, the defendant, then being a storekeeper in Koliala, Hawaii, under the name of Tai Lung & Co., made an assignment of all his property to Elimo Pake and C. Bolte, to realize upon and distribute among his creditors pro rata. The assignees sold the property and paid dividends, to the creditors in 1886, one of 15 per cent, on February 11th, and the…