Reports of Cases Decided in the High Court of Chancery Volume 21

Reports of Cases Decided in the High Court of Chancery Volume 21

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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. 1850 edition. Excerpt: ...of the bonds and the deposit of title-deeds he was in insolvent circumstances.(a) No fraud, however, upon the creditors or otherwise was suggested. The case having been opened for the plaintiffs, it was noticed that some of the defendants who had been served with a copy of the bill, pursuant to the 23rd of the Orders of August, 1841, did not appear by counsel. The Vice-Chancellor expressing some doubt whether the cause could proceed in their absence, the plaintiffs' counsel undertook to appear for them. Mr. Wigram (with whom was Mr. Bates, ) for the plaintiffs, observed that whether the first bond was voluntary or not, the second bond, the deposit, and settlement were securities for value. He was then stopped by the Vi4: e-Chancellor, who, in calling upon the defendants' counsel, told them that they might assume, for the purpose of their argument, that the first bond was merely an act of bounty from a brother to his sister. Mr. Russell and Mr. Taller. for the defendants, the assignees.-Bankruptcy destroys the previous right under the securities. In the Court of Bankruptcy the trustee could have no right to hold a voluntary security; and it must be the same in this Court for the purposes of this cause. There may indeed be some difliculty in contending that the second bond could not be proved under the fiat; but the first was purely voluntary. The Vice-Charwellor.-"A voluntary gift, secured "339 by a deed upon which an action may be brought immediately, is a valuable security. We submit that it is not such a security as can be enforced in the administration of bankruptcy; add to which the obligor was insolvent at the time. If the bonds were voluntary, the settlement could not alter the nature of the property; for no...
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Product details

  • Paperback | 232 pages
  • 189 x 246 x 12mm | 422g
  • United States
  • English
  • black & white illustrations
  • 1236987888
  • 9781236987884