Case of Field's Estate
Supreme Court of Pennsylvania
Appeal from the decree of the Orphans’ Court of Philadelphia county, on the settlement of the account of Joseph Field, administrator of John Field, deceased, and the distribution of the assets among the creditors of the said intestate.
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Appeal from the decree of the Orphans’ Court of Philadelphia county, on the settlement of the account of Joseph Field, administrator of John Field, deceased, and the distribution of the assets among the creditors of the said intestate. The auditors to whom this case was referred, made to the Orphans’ Court a report, of which the following part only is material: “ The auditors further report, that John Field, the intestate, was, on the 8th day of March, 1804, discharged under the bankrupt law of the United States, and regularly obtained his certificate of having conformed in all things to the…
1Opinion of the Court
The opinion of the court was delivered by
Gibson, C. J.
— It seems to be agreed that a debt discharged by a certificate of bankruptcy, is a valid consideration for a promise. How this opinion came to be adopted, I am at a loss to imagine. Contracts are made in reference to the existing laws which tacitly become a part of the stipulations of the parties; so that the creditor, looking to the possibility of the debtor’s bankruptcy, indemnifies himself for the risk in the enhanced price of his commodity; and standing his own insurer, he cannot, even in conscience, object to bearing the loss.…
2Cases cited1 opinion
- Jones v. MooreSupreme Court of Pennsylvania · 1813
3Cited by9 opinions
- State v. BuckSupreme Court of Louisiana · 1894
- Murphy v. Crawford ex rel. JonesSupreme Court of Pennsylvania · 1886
- Postens v. PostensSupreme Court of Pennsylvania · 1842
- Root v. EspyIndiana Supreme Court · 1884
- Hittson v. DavenportSupreme Court of Colorado · 1877
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