Leeds v. Sayward
Superior Court of New Hampshire
It appeared, in this ease, from the disclosure of the trustee, that, on the 13th February, 1832, Sayward, the principal debtor, by a deed of assignment, conveyed to the trustee, all his stock in trade, in trust, to sell and dispose of the same within the term of three months, and out of the proceeds to pay— 1. The expenses attending the trust. 2. A certain sum of money doe to the trustee, from the principal, and no‘e upon which he was surety for the principal. 3. * o” paying…
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It appeared, in this ease, from the disclosure of the trustee, that, on the 13th February, 1832, Sayward, the principal debtor, by a deed of assignment, conveyed to the trustee, all his stock in trade, in trust, to sell and dispose of the same within the term of three months, and out of the proceeds to pay— 1. The expenses attending the trust. 2. A certain sum of money doe to the trustee, from the principal, and no‘e upon which he was surety for the principal. 3. * o” paying the debts aforesaid, to pay and satisfy to the creditors of the principal, who should become parties to the assignment,…
1Opinion of the CourtParker, J.
There is no suggestion, iti this case, that there is any actual fraud upon creditors by this assignment. The *85plaintiff admits the right of the trustee to retain the avails to the amount of the claims of those creditors who became parties to the deed prior to the service of his process, and the only question raised, is, whether he is entitled to the surplus, over and above the amount of those debts, or whether the trustee is bound to pay that surplus to Leverett, who assented and became a party to the transfer after the service of the plaintiff’s writ, and within the time limited in the…
2Cases cited2 opinions
- Frost v. BeekmanNew York Court of Chancery · 1814
- Ingraham v. GeyerMassachusetts Supreme Judicial Court · 1816
3Cited by3 opinions
- Hurd v. SilsbySuperior Court of New Hampshire · 1839
- Hassell v. HoitSuperior Court of New Hampshire · 1845
- Spinney v. Portsmouth Hosiery Co.Superior Court of New Hampshire · 1852