Bank of Baldwin v. Broussard

ON THE MERITS

The district judge found that at the date of the pretended transfer of the rice to Banta, the debts Broussard owed amounted in the aggregate to the sum of $2,200. Counsel for defendant say that if Broussard owed the Smardon note, his total liabilities were about $2,100. We do not see why his obligation represented by the Smardon note should be eliminated from the debts Broussard owed at that time, which show that he was in debt at about the amount fixed by the district judge.

Counsel for Banta cite C. C. 1985, which says:

“By being in insolvent circumstances is meant, that the…