National Revere Bank v. Bay State Shoe Fastening Co.
Supreme Court of New Hampshire
Foreign Attachment. Facts found by the court. At an auction sale July 18, 1891, Richardson, the trustée, bid off certain patent rights, machinery, and other personal property belonging to the defendants, for the sum of six hundred dollars, of which sum one hundred dollars was required to be paid at the time of the sale as a guaranty of the bid, and the balance at the time of the transfer and delivery of the property; and the defendants had thirty days within which to make…
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Foreign Attachment. Facts found by the court. At an auction sale July 18, 1891, Richardson, the trustée, bid off certain patent rights, machinery, and other personal property belonging to the defendants, for the sum of six hundred dollars, of which sum one hundred dollars was required to be paid at the time of the sale as a guaranty of the bid, and the balance at the time of the transfer and delivery of the property; and the defendants had thirty days within which to make the transfer and delivery. Richardson paid the defendants one hundred dollars immediately after bidding off the property.…
1Opinion of the CourtSmith, J.
The trustee must be discharged. At the time of the service of the writ upon him he had not, and at no time after had he, any money, goods, chattels, rights, or credits of the defendants. P. S., c. 245. The contract of sale was for cash on delivery of the property. The title to the property could not vest in the buyer until the sale was consummated by payment and delivery. Luey v. Bundy, 9 N. H. 298, 301; Ferguson v. Clifford, 37 N. H. 86, 103; Paul v. Reed, 52 N. H. 136. Delivery and payment in a cash sale are concurrent acts. The payment of one hundred dollars by check Avas not for a debt…
2Cases cited2 opinions
- Forist v. BellowsSupreme Court of New Hampshire · 1879
- Carter v. Webster & Winnipiseogee Paper Co.Supreme Court of New Hampshire · 1888
3Cited by3 opinions
- Corning v. RecordsSupreme Court of New Hampshire · 1898
- Moreau River State Bank v. JapingaSouth Dakota Supreme Court · 1916
- Ryan v. KimberlyAppellate Court of Illinois · 1905