Parsons & Sons v. Johnson

A mortgage, or trust deed, bearing date November 8, 1880, was executed by Nelson D. Johnson to Bankin as trustee, conveying a stock of merchandise, and authorizing its sale for the benefit of certain named creditors ' of the mortgagor. It is not denied that the debts named in the mortgage are bona fide, and it is admitted that the property conveyed is not of sufficient value- to pay the secured debts in full. The complainants in the present suit are certain other creditors of Johnson, not provided for in the trust deed. They make no attack on the bona fides of the conveyance. The gravamen of…