A Treatise Upon Conveyances Made By Debtors to Defraud Creditors
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S.) 163. spartridge v. Gopp, i Eden, 163; 3Norton v. Norton, 59 Mass. 524; s. c. Ambl. 596; Emery v. Vinall, 26 Black V. Sanders, i Jones (N. C.) Me. 295.
284. VOLUNTARY CONVEYANCES.
valid, although there is a real transfer between the parties, if the circumstances are such as to raise a conclusive pre- sumption of an intent to defraud.
346. Why Voluntary Conveyance is Fraudulent.— A man is generally trusted, or obtains credit, in proportion to the property he appears to own. When creditors tru...st him, they look to his possessions as evidence of his ability to pay, and as a fund from which, if other resources of the debtor fail, they are to receive their demands. The very act of giving credit implies a confidence that he will not diminish this fund to their prejudice. If he divests him- self of his property by giving it away after he has ob- tained credit, and thereby renders himself unable to pay his debts, he violates the confidence which the creditors re- posed in him. This violation of confidence constitutes a fraud, for no man has such an absolute power over his own property as that he can alienate the same, when such alienation directly and necessarily tends to delay, hinder, or defraud his creditors, unless it is made on good con- sideration and bona fide} It is true that they frequently look to the debtor's honesty, industry and skill in busi- ness, but the law cannot take these into account, for they do not afford any means by which the payment of debts can be enforced.
What to read after A Treatise Upon Conveyances Made By Debtors to Defraud Creditors?
You can find similar books in the "Read Also" column, or choose other free books by Orlando Bump to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
S.) 163. spartridge v. Gopp, i Eden, 163; 3Norton v. Norton, 59 Mass. 524; s. c. Ambl. 596; Emery v. Vinall, 26 Black V. Sanders, i Jones (N. C.) Me. 295.
284. VOLUNTARY CONVEYANCES.
valid, although there is a real transfer between the parties, if the circumstances are such as to raise a conclusive pre- sumption of an intent to defraud.
346. Why Voluntary Conveyance is Fraudulent.— A man is generally trusted, or obtains credit, in proportion to the property he appears to own. When creditors tru...st him, they look to his possessions as evidence of his ability to pay, and as a fund from which, if other resources of the debtor fail, they are to receive their demands. The very act of giving credit implies a confidence that he will not diminish this fund to their prejudice. If he divests him- self of his property by giving it away after he has ob- tained credit, and thereby renders himself unable to pay his debts, he violates the confidence which the creditors re- posed in him. This violation of confidence constitutes a fraud, for no man has such an absolute power over his own property as that he can alienate the same, when such alienation directly and necessarily tends to delay, hinder, or defraud his creditors, unless it is made on good con- sideration and bona fide} It is true that they frequently look to the debtor's honesty, industry and skill in busi- ness, but the law cannot take these into account, for they do not afford any means by which the payment of debts can be enforced.
What to read after A Treatise Upon Conveyances Made By Debtors to Defraud Creditors?
You can find similar books in the "Read Also" column, or choose other free books by Orlando Bump to read onlineMoreLess
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