Brown v. Merchant's & Farmers Nat. Bank
Supreme Court of North Carolina
Civil Action, tried at Eall Term, 1877, of Mecklenburg Superior Court, before Kerr, J. This action was brought by the plaintiff as trustee of McMurray & Davis against the Merchants & Farmers, the Traders, and the Eirst National banks of Charlotte, asking the Court to direct the proper distribution of funds in his hands among the trustors’ creditors.
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Civil Action, tried at Eall Term, 1877, of Mecklenburg Superior Court, before Kerr, J. This action was brought by the plaintiff as trustee of McMurray & Davis against the Merchants & Farmers, the Traders, and the Eirst National banks of Charlotte, asking the Court to direct the proper distribution of funds in his hands among the trustors’ creditors. The complaint sets out in substance that on the 7th of June, 1875, McMurray & Davis being unable to meet their liabilities made a conveyance of all their partnership effects to the plaintiff in trust for the benefit of all their creditors who…
1Opinion of the Court
Smith, C. J;
On the 8th day of March, 1875, Grier & Alexander made an assignment of their property in trust to secure pro rata all their creditors. The deed contains a provision that the creditors- thus secured should accept the appropriation and not look to any future acquisitions of the firm for further payments, but their liability should remain unimpaired for the enforcement of a debt (due by McMurray & Davis on which they were bound as sureties. On the 7th day of June following, McMurray & Davis becoming insolvent also conveyed their partnership effects to the plaintiff for the benefit of…
2Cited by22 opinions
- Chemical Nat. Bank v. ArmstrongCourt of Appeals for the Sixth Circuit · 1893
- Voorhees v. Porter.Supreme Court of North Carolina · 1904
- McIver v. Young Hardware Co.Supreme Court of North Carolina · 1907
- Furness v. Union National BankIllinois Supreme Court · 1893
- Tod v. Kentucky Union Land Co.U.S. Circuit Court for the District of Kentucky · 1893
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