Seattle Ass'n of Credit Men v. General Motors Acceptance Corp.

On February 15, 1935, "W. S. McNamara & Co. made a common law assignment for the benefit of creditors to Seattle Association of Credit Men, a corporation. The latter, on August 14, 1935, brought this action to recover, as preferences, certain payments made by its assignor to defendant within the four months period prior to February 15, 1935. To the complaint, defendant interposed a demurrer, which was sustained on the ground that plaintiff had no legal capacity to sue. Judgment of dismissal was accordingly entered. Plaintiff appeals.

The appeal involves the construction of § 1, chapter 47,…