Searle v. Mechanics' Loan & Trust Co.
Court of Appeals for the Ninth Circuit
Appeal from the District Court of the United States for the Northern Division of the District of Idaho; Frank S. Dietrich, Judge. In the matter of the Stack-Gibbs Lumber Company, a corporation.
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Appeal from the District Court of the United States for the Northern Division of the District of Idaho; Frank S. Dietrich, Judge. In the matter of the Stack-Gibbs Lumber Company, a corporation. From an order denying the claim of the Mechanics’ Loan & Trust Company and the Exchange National Bank of Spokane to a preferential lien on all the assets of the bankrupt, but directing that divL dends, thereafter to be determined by the court to be due and payable to the creditors who signed a certain contract, should be paid to Ihe Trust Company and to the Bank jointly, until the full amount of their…
1Opinion of the CourtGilbert, Circuit Judge
(after stating the facts as above). [1] The appellants contend that the trust agreement never went into operation and effect, for the reason that 90 per cent, of the creditors of the Lumber Company failed to sign it. We may take it to be true that 90 per cent, of all the creditors of the bankrupt never signed the agreement. But the fact which controls decision here is that the trustee and all the creditors who did sign assumed that upon obtaining the signature of Mrs. Tolerton the assent of 90 per cent, would have been secured. They knew that the trustee took it for granted, as did they, that…
2Cases cited7 opinions
- Bardes v. Hawarden BankSupreme Court of the United States · 1900
- Whitney v. WenmanSupreme Court of the United States · 1905
- In re RochfordCourt of Appeals for the Eighth Circuit · 1903
- Atchison, T. & S. F. Ry. Co. v. HurleyCourt of Appeals for the Eighth Circuit · 1907
- In re Antigo Screen Door Co.Court of Appeals for the Seventh Circuit · 1903
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3Cited by17 opinions
- Goldie v. CoxCourt of Appeals for the Eighth Circuit · 1942
- Bird & Sons Sales Corporation v. TobinCourt of Appeals for the Eighth Circuit · 1935
- Abrams v. EbyCourt of Appeals for the Fourth Circuit · 1923
- Bank of America Nat. Trust & Sav. Ass'n v. EricksonCourt of Appeals for the Ninth Circuit · 1941
- In Re Lilyknit Silk Underwear Co.Court of Appeals for the Second Circuit · 1934
12 more not listed; retrieve them via the Exa API.