Hoague v. Cumner
| Decision Date | 07 January 1905 |
| Citation | 187 Mass. 296,72 N.E. 956 |
| Parties | HOAGUE v. CUMNER. |
| Court | United States State Supreme Judicial Court of Massachusetts Supreme Court |
Whipple, Sears & Ogden and Alex.
Lincoln, for appellant.
Brackett & Roberts and Geo. F. Piper, for appellee.
The plaintiff is the trustee in bankruptcy of one Messenger, who more than four months before the commencement of the proceedings in bankruptcy, made an assignment of his property to the defendant for the benefit of his creditors, which was assented to by a majority of them, both in number and value. This bill is brought to set aside the assignment and recover the property. It was said by the plaintiff's counsel at the hearing that no question was made in regard to the validity of the assignment, except that a copy of it was not deposited with the clerk of the city or town in which the principal business of the debtor was carried on, as is required by the Rev. Laws, c. 147, § 22. Construing the assignment, first, as valid at common law and under the statutes of this commonwealth (see Faulkner v Hyman, 142 Mass. 53, 6 N.E. 846), and postponing for the moment the consideration of the statute just referred to, the length of time that the assignment had been in force prior to the commencement of the proceedings in bankruptcy rendered its validity free from disturbance by these proceedings. We have been referred to no case which decides or intimates that under the present statute conveyances valid at common law and under local laws can be set aside on account of proceedings begun after the expiration of four months from the time of their execution. Upon Bankr. Act July 1, 1898, c. 541, 30 Stat. 544 [U. S. Comp. St. 1901, p. 3418], conveyances made in fraud of the act within four monthe prior to the filing of the petition in bankruptcy are void. Section 67e, 30 Stat 564 [U. S. Comp. St. 1901, p. 3449]. The implication is that, if there is no other element of fraud than a fraudulent preference under the statute, or an act of bankruptcy committed more than four months before the commencement of the proceedings, the trustee acquires no right to interfere with the conveyance. Section 70e, 30 Stat. 566 [U. S. Comp. St. 1901, p. 3452], which gives the trustee a right to avoid any transfer that might have been avoided by any creditor, includes all conveyances which are fraudulent against creditors at common law; but it does not include an assignment like the present, which we...
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Curley v. New England Trust Co.
...assignment for the benefit of the creditors. This statute does not affect the validity of the deed of assignment, Hoague v. Cumner, 187 Mass. 296, 72 N.E. 956. 2. 1909, c. 490, pt. 1, § 23, cl. 8, provides that personal property held under an assignment for the benefit of creditors shall be......
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Curley v. New England Trust Co.
...simply takes away from the assignee certain protection therein given him in the event of subsequent insolvency. See Hoague v. Cumner, 187 Mass. 296, 72 N. E. 956. 2. St. 1909, c. 490, pt. 1, § 23, cl. 8, provides that personal property held under an assignment for the benefit of creditors s......