Palmer v. Myers
New York Supreme Court
THIS action was brought to set aside an assignment for the benefit of creditors, upon the ground that only two of the three partners, comprising the firm, actually executed the same, without the assent of the third. Other points were raised upon the trial which were not presented on this argument. The defendants relied on the defense that the partner who did not sign the instrument had, before its execution, absconded from the city.
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THIS action was brought to set aside an assignment for the benefit of creditors, upon the ground that only two of the three partners, comprising the firm, actually executed the same, without the assent of the third. Other points were raised upon the trial which were not presented on this argument. The defendants relied on the defense that the partner who did not sign the instrument had, before its execution, absconded from the city. Upon the trial they offered to prove such absconding, and that the absconding partner, Johnson, had executed an assignment in Massachusetts, without the consent…
1Opinion of the Court
By the Court,
Ingraham, P. J.
That an assignment for the benefit of creditors made by a part of the members of the firm without the consent of the other member, where such partner is present, is invalid, has been settled by repeated adjudications. (Pettee v. Orser, 6 Bosw. 123, affirmed in Ct. of Appeals, Dec. 1864. Robinson v. Gregory, Ct. Appeals, Dec. 1863. Wells v. March et al., Id. March, 1864.) And it is also settled that the mere absence of the partner from the state when the assignment is executed will not make the transaction valid. (Robinson v. Gregory, supra.)
The reason assigned for…
2Cases cited3 opinions
- Egberts v. WoodNew York Court of Chancery · 1831
- Deckard v. CaseSupreme Court of Pennsylvania · 1836
- Kemp v. CarnleyThe Superior Court of New York City · 1853
3Cited by8 opinions
- Stanford v. . LockwoodNew York Court of Appeals · 1884
- In Re DanielsSupreme Court of Rhode Island · 1884
- Lowenstein v. FlauraudNew York Supreme Court · 1877
- Lowenstein v. FlauraudNew York Supreme Court · 1877
- National Bank of Baltimore v. SackettNew York Court of Common Pleas · 1868
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