American Bankruptcy Reports; Annotated, (Cited Am. B. R.) Reporting the Bankruptcy Decisions and Opinions in the United States, of the Federal Courts,

American Bankruptcy Reports; Annotated, (Cited Am. B. R.) Reporting the Bankruptcy Decisions and Opinions in the United States, of the Federal Courts,

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1902 edition. Excerpt: ... grace, the same as a note. (1 Edwards on Bills and Notes, 3rd Ed., 396), and therefore the decision In. re Abrar ham Steers Lumber Co., 6 Am. B. R. 315, and affirmed by the Circuit Court of Appeals, to the effect that the giving of a note does not constitute a payment at the time it was delivered, negatives the proposition that such payment was made on January 2nd, 1900, at the time the said post-dated check was delivered to the creditor; had the check never been paid, no preference would have been received by the creditor. A creditor receives a preference, when there is actually transferred to him, either in money or in other value, part of the debtor's property. The transfer herein to the creditor took place either on J anuary 20th, 1900, or thereafter; and as such transfer took place on or after the day the bankrupt became insolvent, and as the law does not consider fractions of a day, the result naturally follows that under the authorities, the said firm of George Batten. & Co. did, on January 20th, 1900, while the bankrupt was insolvent, receive a preference to the extent of $210.15, and which preference must be surrendered before the said creditors can participate in a distribution of the estate of the bankrupt. The evidence and record show that the post-dated check payable on January 20th, 1900, amounting to $210.15, was part of a running account for advertising furnished by the said - Reported 7 Am. B. R. 332. creditors to the bankrupt company; and the proof of debt filed herein by the creditors in the sum of $546.62 is for advertising furnished subsequently; so that we have before us all the elements of a continuous business transaction and a running account, and no alternative is therefore left under the decision of the United...show more

Product details

  • Paperback | 354 pages
  • 189 x 246 x 19mm | 630g
  • Rarebooksclub.com
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236652339
  • 9781236652331