Krafte v. Belfus

Belfus agreed, July 15th, 1929, to purchase a house from Joachim and was decreed to perform (Joachim v. Belfus,107 N.J. Eq. 240; 108 N.J. Eq. 199, 622), and, defaulting, a money decree was taken against him and the house was sold and purchased by Joachim at a nominal figure, leaving a deficiency of $12,000. Belfus went into bankruptcy to escape the debt. He listed $14,500 of liabilities, of which $12,500 was Joachim's decree, and nominal assets.

1. Krafte, trustee in bankruptcy, filed a bill to compel Mrs. Belfus to account for $4,500, one-half the proceeds of sale of a house in Stratford…