Reports of Cases Argued and Determined in the Supreme Court of Rhode Island Volume 14

Reports of Cases Argued and Determined in the Supreme Court of Rhode Island Volume 14

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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. 1885 edition. Excerpt: ... a bill in equity to obtain the stock. Held, that the shares of stock were liable to attachment and execution sale as the property of A. notwithstanding the prior fraudulent transfer by him. Held, further, that the bill in equity should be maintained, the complainant having no adequate remedy at law, if any. The Rhoda Island Statutes providing for the attachment of corporate stock explained. Fall: v. Flint, 12 R. I. 14, limited. BILL IN EQUITY to avoid a transfer of corporate stock. On demurrer to the bill. The demurrer was argued April 6, 1883. Subsequently by order of the court a reargument was had December 11, 1883, on the points considered in the following opinion. February 9, 1884. DURFEE, C. J. This is a suit to avoid certain transfers of corporate stock. The stock was attached on original writ in an action at law in favor of the complainant and one John T. Mauran against the defendant Burrough, and after judgment recovered against Burrough was sold on execution to the complainant. The stock had formerly belonged to Burrough and had stood in his name on the books of the corporation, but had been transferred on the books before the attachment. The bill alleges that the transfers were made by Burrough with intent to hinder, delay, and defraud his creditors, and therefore asks to have them avoided. The case is before us now on demurrer under which three questions have been argued, to wit: first, does our statute of fraudulent conveyances extend to fraudulent transfers of corporate stock; and if not, second, are such transfers void as against creditors at common law; and third, are shares of corporate stock liable to attachment and to sale on execution, if they do not stand in the name of the debtor. The discussion of the two first...
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Product details

  • Paperback | 286 pages
  • 189 x 246 x 15mm | 513g
  • English
  • Illustrations, black and white
  • 1236925491
  • 9781236925497