Cases Determined by the St. Louis, Kansas City and Springfield Courts of Appeals of the State of Missouri Volume 36

Cases Determined by the St. Louis, Kansas City and Springfield Courts of Appeals of the State of Missouri Volume 36

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1889 edition. Excerpt: ...it, is that the movant is not entitled to maintain this motion for a penalty, because, when he demanded a dividend of three per cent. in 1886, as above stated, the assignee had not enough assets on hand to pay as much as three per cent. It is true that, according to his last report previous to that time, the assignee had not quite enough on hand to make payment of a dividend of three per cent.; but we do not understand on what principle this excuses him from so far complying with the statute, as to pay what he could, regard being had to the condition of the estate. A plaintiff is not to be thrown out of court simply because he demands too much in his petition or declaration; nor can an assignee excuse any compliance whatever with the demand of a creditor for a-dividend, merely because he demands that too large a. dividend shall be made. It is to be observed that the statute does not restrict the liability of the assignee and his sureties to this penalty merely because of his refusal or neglect to declare and pay a dividend, but it gives it "in case the _ assignee shall in any wise neglect or refuse to comply with the provisions of this section." Nor is the penalty, which the statute gives, five per centum per month on any dividend which has been declared and not paid, but it is five per centum per month on such sum as such person was entitled to at the time of such demand. III. It is argued that the assignee is not required to pay a dividend, as provided for by section 387, 'un'thz'n one month after allowance of claim, unless there was a. surplus out of which to pay the same "after reserving enough for proper fees, costs, expenses, and demands." ' It is also argued on behalf of the assignee that there is no proof...show more

Product details

  • Paperback | 244 pages
  • 189 x 246 x 13mm | 440g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236868935
  • 9781236868930