The Southern Law Review Volume 3

The Southern Law Review Volume 3

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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. 1877 edition. Excerpt: ...circumstances." The interest of all is to be considered, and the resolution will not be rejected merely because a peculiar benefit will thereby accrue to some particular creditor." The mere fact that the payment of the composition is secured by the personal agreement of the debtor is not, of itself, sufiicient cause for rejecting the resolution.95 But if the composition does not provide for the payment of as much as the assets may be reasonably expected to pay, then it is not for the best interest of all concerned, and will not be recorded?' In passing upon this question some deference is always given to the judgment and discretion of the creditors who are presumed to be familiar with the debtor's business and the value of the assets, and their decision will not be weighed with extreme nicety, nor overruled on account of any slight difference between the value of the assets and the proposed composition." The question is not whether the debtor might have offered more, but whether his estate will pay more in bankruptcy." The elements of this comparison must necessarily vary with the amount of debts, the amount and character of the assets, thenature of the business, and other circumstances. 9' In re Blaney T. Walshe, 2 Woods, 225. 9' In re James M. Sawyer, 14 B. R. 241. 93 In re Haskell, I! B. R.!64. 94 In re Scott, Collins & Co., I5 B. R. 73. 95 Ex purl: Roots, L. R. 2 Ch. App. 559. 961:: re Reiman & Friedlander, n B. R. 21; 13 B. R. 128; 7 Ben. 455; 12 Blatchf. 562; In re Morris, H B. R. 443; In rz Scott, Collins & Co., I5 B. R. 73; Ifxparte Cowen, L. R. 2 Ch. App. 563; Hart v. Smith, L. R. 4 Ex. 61; Ex part: Williams, L. R. lo Eq. 57; In re Page, L. R. 2 Ch. Div. 323. 97ExparIz Linley, ...
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Product details

  • Paperback | 396 pages
  • 189 x 246 x 21mm | 703g
  • United States
  • English
  • black & white illustrations
  • 1236950348
  • 9781236950345