Flash v. Wilkerson
United States Circuit Court
In Equity. Wilkerson, a retail grocery merchant at Jackson, Tennessee, suddenly and secretly sold his stock of groceries to Hopper, a speculator, for 75 cents of the invoice price, the purchaser paying in cash $6,100, of which the debtor paid to one Bond the sum of $3,000, and to one Smith the sum of $2,250, they being alleged creditors for borrowed money, and residing at Jackson, thereby preferring them to his commercial creditors, of whom he purchased the goods, and to…
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In Equity. Wilkerson, a retail grocery merchant at Jackson, Tennessee, suddenly and secretly sold his stock of groceries to Hopper, a speculator, for 75 cents of the invoice price, the purchaser paying in cash $6,100, of which the debtor paid to one Bond the sum of $3,000, and to one Smith the sum of $2,250, they being alleged creditors for borrowed money, and residing at Jackson, thereby preferring them to his commercial creditors, of whom he purchased the goods, and to whom he owed about $11,000. The day after the sale the creditors filed this bill, attached the goods, which were sold by…
1Opinion of the Court
TIaMMond, J.,
(orally.) The further consideration of this case would servo no useful purpose. The adjudications on the subject of fraudulent conveyances are so numerous, variable, and conflicting that no court can undertake the task of deciding any case according to strict precedents. The most it can hope to do is to gather together the principles that should control its action and apply them to the case in band, leaving each case to be governed by its own peculiar circumstances. The doctrines that govern a court of equity are not difficult to understand, and are mostly familiar to all courts,…
2Cases cited1 opinion
- Clements v. MooreSupreme Court of the United States · 1868
3Cited by2 opinions
- Irving Trust Co. v. Finance Service Co.Court of Appeals for the Second Circuit · 1933
- De Bary v. SouerCourt of Appeals for the Fifth Circuit · 1900