Livermore v. . Northrup
New York Court of Appeals
Appeal from an order of the General Term of the Supreme Court, sixth district, affirming a judgment entered upon a verdict in favor of the plaintiffs. The action was brought to recover the value of a stock of merchandise, and certain cows, lumber, and saw logs, belonging to the plaintiffs, as assignees of Simon J. Lusk, for the benefit of his creditors.
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Appeal from an order of the General Term of the Supreme Court, sixth district, affirming a judgment entered upon a verdict in favor of the plaintiffs. The action was brought to recover the value of a stock of merchandise, and certain cows, lumber, and saw logs, belonging to the plaintiffs, as assignees of Simon J. Lusk, for the benefit of his creditors. The defendant denied the allegations .of the complaint, and claimed to hold the property by virtue of an attachment, ■issued'by a justice of the Supreme Court, in behalf of certain -creditors of Lusk, on the ground that he had disposed of his…
1Opinion of the Court
Leonard, C.
The grounds for the motion to dismiss the complaint were entirely untenable. The difference between the liabilities and the assets, as to their value, was not of such a nature as to afford a presumption of fraud. The. nominal difference was not large; and the statement of the assets included debts due to the assignor at their face, without reference to the question whether they were collectible or not. As to that fact, there was no evidence. Where the assets are clearly in excess of the liabilities of the debtor, to a large extent, it may raise a presumption of an intent to hinder…
2Cited by19 opinions
- Wills v. RossIndiana Supreme Court · 1881
- Weight v. JonesIndiana Supreme Court · 1886
- First National Bank v. BertschyWisconsin Supreme Court · 1881
- Lockren v. RustanNorth Dakota Supreme Court · 1899
- Wilson v. Mitchell-Woodbury Co.Massachusetts Supreme Judicial Court · 1913
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