Hanover National Bank v. Klein
Mississippi Supreme Court
Appeal from the Chancery Court of Warren County. Hon. Warren Cowan, Chancellor. The Hanover National Bank and Andrew Kelly filed this bill on March 10, 1884, against Mrs. E. B. Klein and Geo. M. Klein. In 1868 there were taken out on the life of Jno. A. Klein two policies of insurance, and in 1875 a third policy, for the benefit of his wife, Mrs. E. B. Klein. J. A. Klein and Geo.
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Appeal from the Chancery Court of Warren County. Hon. Warren Cowan, Chancellor. The Hanover National Bank and Andrew Kelly filed this bill on March 10, 1884, against Mrs. E. B. Klein and Geo. M. Klein. In 1868 there were taken out on the life of Jno. A. Klein two policies of insurance, and in 1875 a third policy, for the benefit of his wife, Mrs. E. B. Klein. J. A. Klein and Geo. M. Klein had been carrying on a banking business under the name of “ The Mississippi Yalley Bank.” On November 21, 1883, the bank suspended payment, greatly insolvent, owing the Hanover National Bank a debt…
1Opinion of the CourtArnold, J.
It is but the reiteration of well-settled principles, by no means peculiar to Mississippi, to affirm that the right of copartnership *150creditors to have assets of the firm applied first to the payment of firm debts is a rule of administration adopted and exercised only by courts of equity when they are called upon to administer the affairs of a partnership, and that the equity of firm creditors in this behalf is a derivative one, growing out of the right of the partners as between themselves to do the same thing, and that if the partners for any cause could not enforce such right as between…
2Cases cited8 opinions
- Case v. BeauregardSupreme Court of the United States · 1879
- Schmidlapp & Bros. v. S. D. Currie & Co.Mississippi Supreme Court · 1878
- Roach v. BrannonMississippi Supreme Court · 1879
- Christie v. BishopNew York Court of Chancery · 1845
- Watson v. PalmerSupreme Court of Arkansas · 1844
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3Cited by8 opinions
- Phelps v. SmithIndiana Supreme Court · 1888
- Reyburn v. MitchellSupreme Court of Missouri · 1891
- Jackson Bank v. DurfeyMississippi Supreme Court · 1895
- Rouse v. WallaceColorado Court of Appeals · 1897
- Bedford v. McDonaldTennessee Supreme Court · 1899
3 more not listed; retrieve them via the Exa API.