National Bank v. Sackett
New York Court of Common Pleas
Motion for an injunction. The plaintiffs, who were creditors of defendants’ firm, sued for the appointment of a receiver, and to enjoin the defendants from making an assignment of their assets. The facts are stated in the opinion.
1Opinion of the CourtCardozo, J.
I understand the following propositions to be fairly deducible from the authorities:
First. That an assignment of all the property of an insolvent partnership may be valid, although not executed by all the partners, if authority in the partners executing it has either been expressly granted, or may be inferred from circumstances (Trelles v. March, 30 N. Y., 330; Kelly v. Baker, 2 Hilt., 531; Roberts v. Chollar, Gen. T., Com. Pleas, April, 1866).
Second. That such an assignment cannot be sustained where the non-executing partner is present (See cases collected in Palmer v. Myers, 43 Barb., 509,…
2Cases cited3 opinions
- Whiting v. . BarneyNew York Court of Appeals · 1864
- Palmer v. MyersNew York Supreme Court · 1865
- Kelly v. BakerNew York Court of Common Pleas · 1858