Commercial Law Reports (Annotated); Being Reports of Important Decisions Relating to Companies, Banks and Banking, Insurance, Insolvency, and Similar Subjects in the Federal and Provisional Courts; Together with Annotations, a Volume 1

Commercial Law Reports (Annotated); Being Reports of Important Decisions Relating to Companies, Banks and Banking, Insurance, Insolvency, and Similar Subjects in the Federal and Provisional Courts; Together with Annotations, a Volume 1

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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. 1903 edition. Excerpt: ...The sole question on this point of the case therefore is bmzafides. Mr. Galt in his able argument contended that the whole transaction was fraudulent because there was an agreement not to register at once; and more or less false information was given to the plaintifis' agents as to the amount due to the Bank. The security was kept secret, and was taken when it was clear that the Company was insolvent; but as Sir G. Jessel says in.Mz'a'dleton v. Pollock (I876), 2 Ch. D. I08, there is no law which prevents a man in insolvent circumstances from preferring one creditor, except the bankruptcy law. Therefore, the mere fact of a deliberate intention of preferring, in case of insolvency, will not be sufficient to avoid the claim, assuming that it had been proved that the grantor was insolvent and insolvent to his own knowledge, the security being bona fide. The statute has no regard to the question of preference or priority amongst the creditors of the debtor, and pressure is an indication of bonafides; and in I/V. Zllorrzs v. A. fillorris (1895), A. C. 625, the Lord Chancellor said it was immaterial to inquire why the appellant refrained from registering his security, he was under no obligation to do so; no doubt he incurred the risk of losing his security.. The case of Alton v. Harrison (1869), 4. Chy. App. 622, the debtor expecting an execution against him executed a mortgage vesting his property in trustees for the benefit of five creditors, and the deed contained a proviso that the debtor should remain in possession for six months, but so as not to let in any execution, and in case any should be enforced possession was to cease; and it was there held that if the deed was bona /ide, and not a mere cloak for retaining a benefit to the...show more

Product details

  • Paperback | 186 pages
  • 189 x 246 x 10mm | 340g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 123683187X
  • 9781236831873