In Re the General Assignment of Hevenor
New York Court of Appeals
Appeal from order of the General Term of the Supreme Court in the fifth judicial department, made June 6, 1893, which affirmed an order of the County Court of Erie county confirming the report of a referee disallowing a claim rejected by the assignee. On July 13th, 1891, Hevenor made a general assignment for the benefit of his creditors.
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Appeal from order of the General Term of the Supreme Court in the fifth judicial department, made June 6, 1893, which affirmed an order of the County Court of Erie county confirming the report of a referee disallowing a claim rejected by the assignee. On July 13th, 1891, Hevenor made a general assignment for the benefit of his creditors. The deed, of assignment contained the provision, that, after the payment of the expenses of executing the assignment and of certain debts, the assignee should apply the residue of the estate to the payment of all the debts and liabilities of the assignor,…
1Opinion of the CourtGbay, J.
By the provisions of the lease it was open to these appellants, the lessors, to elect to allow the premises to remain vacant; in which case they would have had a valid and certain claim against the assigned estate for the rent as reserved in the lease; or they could take the other course and, as the agents of the lessee, re-let the premises and apply the avails in reduction of the rent reserved in the lease. The effect of exercising the latter option was to terminate the agreement to pay the monthly rent and, thereafter, to leave the matter of any liability of the lessee to them contingent…
2Cases cited2 opinions
- Brainerd v. . DunningNew York Court of Appeals · 1864
- Citizens' Bank v. . WilliamsNew York Court of Appeals · 1891
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