Isaacs v. Zugsmith
Supreme Court of Pennsylvania
Error to the Court of Common Pleas No. 2 of Philadelphia county: Of January Term 1883, No. 172. This was an action of assumpsit by Simon Zugsmith, against Isaac S. Isaacs, upon a promissory note made by the defendant to the order of J alien Gallett, and b}’ the latter indorsed to the plaintiff.
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Error to the Court of Common Pleas No. 2 of Philadelphia county: Of January Term 1883, No. 172. This was an action of assumpsit by Simon Zugsmith, against Isaac S. Isaacs, upon a promissory note made by the defendant to the order of J alien Gallett, and b}’ the latter indorsed to the plaintiff. On the trial, before Fell, J., the following facts appeared : Before the maturity of the note Isaacs made an assignment for the benefit of his creditors, in the usual form, the proceedings thereunder being in the Court of Common Pieas No. 4 of Philadelphia county. An auditor was appointed by the court…
1Opinion of the CourtJustice Tkunicey
*80An Auditor was appointed by the Court'of Common Pleas to audit the account of Solomon Isaacs, assignee of Isaac S. Isaacs, who had assigned in trust for his creditors, and to distribute.the balance in the hands of the accountant. Nearly all the creditors having signed an agreement that the account as filed should be confirmed, the balance divided pro rata, and that they would release the assignor from all further claims on account of their debts, it being understood that the balance was about ten per centum of the amount of the debts, and none objecting, the Auditor merely made distribution.…
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