Wood v. Boland — 1 Sarat. Ch. Sent. 2

Majority

p. 1051

(January 25.)

Ross W. Wood et al. v. Jacob Bolan d et al.

Headnote

Assignment and confession of judgment for benefit of creditors, by debtor arrested for fraud, set aside as fraudulent android.

E. J. Chase for the complainants.

A. C. Bradley for the defendants.

In this case the chancellor decided that where a debtor was arrested and convicted of a fraud, under the Act of 1831 to abolish imprisonment for debt and punish fraudulent debtors, and after the arrest, but before the hearing before the judge; made an assignment of his property to a trustee for his creditors, giving preferences; and confessed a judgment to the trustee for the same purpose,—the assignment and the judgment were a fraud upon the statute, and were properly set aside as fraudulent and void as to the creditor who proceeded against his debtor under the Act, for a previous fraud. Decree of the vice-chancellor affirmed, with costs, to be paid by the defendants, and with interest on the amount decreed against them by the vice-chancellor as damages for the delay and vexation caused by their appeal.