Bailey v. Kansas Manufacturing Co.
Supreme Court of Kansas
Error from Atchison District Court. January 27, 1882, The Kansas Manufacturing Company brought its action against A. Macdonald, on seven promissory notes not then due, and procured an. order of attachment, which was levied on a stock of hardware. The stock of hardware was mortgaged by A. Macdonald, and the mortgage was assigned to J. W. Bailey. On July 7,1882, J. W. Bailey filed his motion to be allowed to interplead.
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Error from Atchison District Court. January 27, 1882, The Kansas Manufacturing Company brought its action against A. Macdonald, on seven promissory notes not then due, and procured an. order of attachment, which was levied on a stock of hardware. The stock of hardware was mortgaged by A. Macdonald, and the mortgage was assigned to J. W. Bailey. On July 7,1882, J. W. Bailey filed his motion to be allowed to interplead. The court sustained the motion, and on August 5, 1882, the interplea was filed, setting up a note executed by A. Macdonald to his wife, Maria Macdonald, for $1,500, dated April…
1Opinion of the Court
The opinion of the court was delivered by
Horton, C. J.:
If the chattel mortgages therein referred to were executed in good faith, and for a valid consideration, the first conclusion of the trial court cannot be upheld. The several instruments executed by A. Macdonald were not intended to constitute a general assignment for the benefit of creditors, and the findings of fact do not support such a conclusion. It is well settled that an insolvent, as long as he retains a jus clisponendi of his property, may appropriate it to the payment of his debts, and may prefer creditors. He may use all his…
Also in this document: Concurrence.
2Cases cited5 opinions
- Monroe v. May, Weil & Co.Supreme Court of Kansas · 1872
- Lampson v. ArnoldSupreme Court of Iowa · 1865
- Van Patten v. BurrSupreme Court of Iowa · 1879
- Tootle, Hosea & Co. v. ColdwellSupreme Court of Kansas · 1883
- Dodd v. Hills & KramerSupreme Court of Arkansas · 1879
3Cited by5 opinions
- Kennedy v. PowellSupreme Court of Kansas · 1885
- Cooper v. First National BankSupreme Court of Kansas · 1888
- Wyeth Hardware Co. v. Standard Implement Co.Supreme Court of Kansas · 1891
- Bank of Inman v. GravesSupreme Court of Kansas · 1938
- Commercial State Bank v. BoatmanSupreme Court of Kansas · 1913