State National Bank v. Merchants' Bank
Mississippi Supreme Court
FroM the chancery court of Grenada county. Hon. James C. Long street, Chancellor. Tbe suit was a statutory proceeding, under Code 1892, cli. 8, by B. 0. Duncan, one of the appellees, assignee in an assignment for the benefit of creditors, executed by the Merchants’ Bank of Grenada; the defendants to the proceeding were said Merchants’ Bank and its creditors, among them the appellant. State National Bank of Saint Louis.
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FroM the chancery court of Grenada county. Hon. James C. Long street, Chancellor. Tbe suit was a statutory proceeding, under Code 1892, cli. 8, by B. 0. Duncan, one of the appellees, assignee in an assignment for the benefit of creditors, executed by the Merchants’ Bank of Grenada; the defendants to the proceeding were said Merchants’ Bank and its creditors, among them the appellant. State National Bank of Saint Louis. The purpose of the suit was to have the chancery court administer the trust evidenced by the assignment, and to treat the complainant, Duncan, as a receiver under the…
1Opinion of the CourtGalhooN, J.
The Merchants’ Bank made, or attempted to make, a general assignment, without any preferences whatever, to Mr. Duncan as assignee, for the benefit of its creditors, and he duly qualified as such, and proceeded regularly in conformity with chapter 8 of the code of 1892, and thus, under § 119 of that code, became receiver in equity in the chancery court of Grenada county. All creditors were duly made partners, including the appellants, and afterwards at the April term of the court, following the January term, when the proceedings were begun, a pro confesso decree was taken against them, but set…
2Cases cited1 opinion
- Beecher v. Marquette & Pacific Rolling Mill Co.Michigan Supreme Court · 1881
3Cited by3 opinions
- Council of Jewish Women v. Boston Section Council of Jewish WomenMassachusetts Supreme Judicial Court · 1912
- North Mississippi Savings & Loan Ass'n v. Confederate States Savings & Loan Ass'nMississippi Supreme Court · 1964
- Duncan v. State National BankMississippi Supreme Court · 1904