Page images
PDF
EPUB

they intend to draw in favour of G.K. interest of the bankrupt, and as to
& Co. for the balance of such ship- his diligence in endeavouring to re-
ments, and that they inclose bills of cover certain debts. Er parte Byrom,
lading and policies of insurance for the 3 M. D. & D. 55.
goods in question ; and they also 3. Form of Order, upon the petition
draw a bill for the amount on G. B. of an assignee, who had in the name
in favour of G. K. & Co., which they of an agent bid at a sale for a portion
direct G. B. to place to account of of the bankrupt's property, and then
shipments per Gardner. Before the prayed to have the sale completed,
goods reach England, G. B. becomes or the property resold. Ex parte
bankrupt, and the goods come to the Gore, 3 M. D. & D. 77.
possession of his assignees: Held, 4. Form of Order in case of an as-
that the above expression in the signee buying in, by mistake, a mort-
bill and the letter amounted to a spe- gaged estate of the bankrupt at a
cific appropriation of the goods for sale, under Lord Loughborough's
the payment of the bill, and that the Order. On such a sale, the assignees
assignees were bound to account to must have the conduct of it; and it
G. K. & Co. for the proceeds. Er is an improper practice for the sale
parte Gledstanes, 3 M, D. & D. 109. to be conducted by the mortgagee.

Ex parte Cuddon, 3 M. D. & D. 302.
(Of Payments.)

5. An assignee removed at his own
See Proof, 6.

request, in order that he might bid
ARREST.

at a sale of part of the bankrupt's
See PROTECTION.

estate. Ex parte Perkes, 3 M. D. &

D. 385.
ASSIGNEES.

6. A petitioning creditor, who com-
er a dividend has been declared, plains that the assignees have not
a party entitled in respect of a proof complied with the commissioners'
requests the assignees, by letter, to order, directing his bill of costs to be
send him the amount of his dividend paid, although they have received
in a post office order, promising to monies applicable to that purpose,
send a receipt by return of post. may apply to the Court of Review in
The assignees send no answer. Held, the first instance, without the as.
that this is such a refusal to pay the signees being previously summoned
dividend as entitles the creditor to before the Commissioner to produce
an order upon petition at the costs of their accounts. Ex parte Rushworth
the assignees personally. Ex parte 3 M. D. & D. 318.
Jackson, 3 M. D. & D. 1.

7. The owner of an estate took the
2. Inquiry directed as to the conduct benefit of the Insolvent Act, and
of an assignee in selling a reversionary afterwards became bankrupt. The

assignees in bankruptcy, without of the act, as well as to action
communicating with the assignees by assignees under future commis-
of the insolvency, in whom the estate sions.
was vested, sold it, pending a suit That section applies to actions of
instituted by the vendors for a spe- ejectment by an assignee. Doe v.
cific performance, the assignees of Liversedge, 11 M. & W. 517.
insolvency affirmed the sale. А 11. An action of trespass, for seizing
specific performance was decreed. and taking the plaintiff's goods under

A vendor filed a bill for specific a false and unfounded claim of a
performance, alleging that the de. debt, per quod the plaintiff was an-
fendant resisted it on the ground that noyed and prejudiced in his business,
the bankruptcy under which the plain- and believed by his customers to be
tiff claimed was invalid. Neither insolvent, and certain lodgers left his
allegation turned out correct, and house, does not pass to the plaintiff's
though a good title was first shown assignees on his bankruptcy, Brewer
in the Master's office, the decree was v. Dew, 11 M. & W. 625; 1 Dowl.
made without costs. Sidebotham v. & L. 383.
Barrington, 5 Beav. 261.

11. Mortgagor and mortgagee join
8. The assignee of an insolvent debtor, in demising trade premises to a lessee,
under 1 & 2 Vict. c. 110, being un-

and at the same time the mortgagee
able to recover an estate belonging

and lessee enter into partnership by
to and in the possession of the insol. articles, according to which the de-
vent, owing to the existence of an mised premises are to be considered
old commission of bankrupt against as partnership property. The lessee
the insolvent (which, however, had becomes bankrupt. Held, that the
been long since abandoned, in con- Court had jurisdiction to order the
sequence of all the creditors under it assignees to elect whether they would
having compromised and released take or abandon the premises ; and
their debts), is entitled to maintain semble, that the Court has jurisdiction
a suit in chancery against the insol- to order the assignees to pay the
vent and the assignee in bankruptcy, landlord's costs. But it will not so
for the recovery of the estate, and for order, in general, nor unless under
a receiver of the rents in the mean- special circumstances. Ex parte Nor-
time. Hollis v. Bryant, 12 Sim. ton, 3 M. D. & D. 312.
492.

12. A lessor is entitled, under the 6
9. The 90th section of the Bankrupt Geo. 4. c. 16. s. 75, to an Order on
Act, 6 Geo. 4. c. 16, applies to ac- the assignees to elect whether they
tions afterwards brought to trial by will
assignees acting under commissions withstanding the lease is in the hands
which were issued before the passing of a third person, with whom it was

Er parte

[ocr errors]

case.

deposited by the bankrupt by way was received by B. in his character
of equitable mortgage.

of assignee; and that B., having him-
Vardy, 3 M. D. & D. 340.

self become bankrupt, might, under
13. The Court will only sanction a the 6 Geo. 4. c. 16. s. 105, be charged
compromise made by the assignees with the amount, together with in-
with a claimant against the bankrupt's terest at 51. per cent., notwithstand-
estate, subject to the approbation of ing he had obtained his certificate.
the Commissioner. Er parte Mar- Ex parte Ralph, 3 M, D. & D. 331.
shall, 3 M. D. & D. 448; and see 16. Where an assignee petitioned
ADVERTISEMENT, 5.

for the removal of his co-assignee on
14. Where the Commissioners, at a the ground of misconduct, which was
meeting to audit the accounts of the denied by the latter, who recrimi-
assignees and declare a dividend, nated, a special reference was directed
found a certain sum to be in the hands to the Commissioner to inquire into
of the assignees, and declared a di- and report the circumstances of the
vidend accordingly; semble that each

Ex parte Oulton, 3 M. D. &
of the assignees is liable for the pay-

D. 336.
ment of the dividend, although the 17. Where the sole assignee was the
principal fund for that purpose had managing clerk of a solicitor, who
been received by and was then in the had bought an estate of the bankrupt,
hands of only one of the assignees.

and had neglected to complete the
If an assignee objects to be so purchase, the Court ordered him to
charged with money in the hands of be removed, and that there should be
his co-assignee, he should state his

a new choice.

Ex parte Ashmore, 3
objection to the Commissioner at the M. D. & D. 461.
audit, and not lie by until a petition 18. Where one of several assignees is
is presented for the payment of the removed, it seems that the 25th and
dividend. Er parte Ridley, 3 M. D. 26th sections of the 1 & 2 Will. 4.
& D. 4.

c. 56, require for the effectually vest-
15. A., being indebted to B., abscondsing of the bankrupt's estate, that a
to America, upon which B. sends out new assignee should be appointed in
a power of attorney to an agent to

Ex parte Daniel, 3 M. D.
recover back what money he can froni & D. 612.
A. B., hearing of a similar proceeding See BANKER AND CUSTOMER, 3, 4-
against A. by another creditor, sues Costs, 4 — Evidence Execu-
out a fiat against A., and is chosen

HUSBAND AND Wife, 2,
one of his assignees; and afterwards 3— MESSENGER - MORTGAGE, 14
B.'s agent in America obtains a sum PAYMENT INTO COURT — Peri-
of money from A. and remits it to B.

PLEADING RELATION
in England: Held, that this money

WARRANT,

his room.

TION

TION

Banker and Customer.

INDEX.

Banker and Customer.

755

ASSIGNEE, OFFICIAL. in the box certain railway shares to See OFFICIAL ASSIGNEE.

secure the replacing of the secu

rities thus lent. This partner afterBANKER AND CUSTOMER. wards, for his own purposes, and

1. Upon a loan of 28,2001. Cuba without the knowledge of the cusbonds by a customer to his bankers, tomer, subtracts the railway shares, the latter engaged to replace them, and substitutes others of less value. " at or within the expiration of three Held, that, as the proceeds of the months, if he should require them to railway shares were not applied to do so," and to deposit other secu- the use of the partnership, the bankrities for the performance of this en- ing firm were not answerable for this gagement. After the expiration of tortious act of their partner for his the three months, without any re- own benefit, and consequently that quisition on the part of the customer, the customer had no right of proof the customer consents to an exchange against the joint estate for the amount of other securities for those deposited of the difference between the value by the bankers, without any new sti- of the shares subtracted and those pulation as to the period of redemp- that were substituted. Ibid. tion, and the bankers afterwards be- Held, also, that the partners were come bankrupt. Held, under these

not chargeable with any loss occacircumstances, that the time for re- sioned by this subtraction of the placing the Cuba bonds became in- shares, on the ground of negligence ; definite, and that the bankers were and that even if they were, it would be not bound to replace them, until re- a claim for unliquidated damages, and quested to do so; and that no such therefore not proveable against the request having been made by the joint estate. Ibid. customer before their bankruptcy, 2. A bill of exchange remitted by a the customer had no right to prove customer to his bankers, and not due, for the amount of the bonds under

but remaining in specie at the time the fiat; and that the 6 Geo. 4. c. 16. of their bankruptcy, continues the s. 56, as to the proof of contingent property of the customer; and the debts, did not apply. Ex parte Eyre, same is the law as to a bank post 3 M. D. & D. 12; 1 Phill. 227. bill, which the customer sends to the

A customer deposits a box con- bankers, with a letter desiring them taining various securities with his to place it to his credit, and to send bankers for safe custody, and after- him a receipt. Er parte Atkins, s wards grants a loan of a portion of M. D. & D. 103. such securities to one of the partners 3. By the custom of a bank, money in the banking house for his own pri- paid in after banking hours was put vate purposes, upon his depositing into a separate place of deposit, and

756

Banker and Customer.

INDEX.

Banker and Customer.

entered in a counter book, but not made any payment or remittance in carried to the customer's account till respect of them, knowing at the time next day. Where a customer paid of receiving the cheques that bankin bank notes after the banking ruptcy was inevitable. The assignees hours, and the banker having before obtain payment from the customers resolved not to open his bank again, of the full amounts of the cheques. placed the note in such separate Held, that the second bankers were place of deposit, without carrying it entitled to payment in full of the to the account of the customer, and same amounts out of the bankrupts' next morning stopped payment, and estate, Ex parte Cole, 3 M, D. & D. became bankrupt, the bank note was 189. held to remain the property of the 5. Where short bills had been decustomer. Sadler v. Belcher, 2 Moo. posited with a country banker, and & Rob. 489,

had been by him indorsed to his 4. Customers draw cheques on their agent in London, who had a lien bankers with whom their accounts upon them for advances to the counare already overdrawn, and pay away try banker: Held, on the bank. the cheques, which come to the hands ruptcy of the country banker, that of other bankers. The second bank- the proceeds of the bills, after satisers remit to the first the cheques fying the lien of the London bankers, in a printed circular, desiring the ought to be distributed rateably amount of them to be paid to the among the depositors of the short London correspondents of the second bills. Ex parte Froggatt, 3 M. D. & bankers. Notwithstanding this cir- D. 322. cular, the custom between the bankers 6. If the balance of a banking is to pay one another's cheques, so account remain overdue after the far as circumstances permit, by remit- bankruptcy of the banker, his astances of notes of the bankers send- signees are entitled to recover inteing the cheques, directly to those rest on such balance, as well for the bankers, the understanding being period which has elapsed since the however that the cheques should be bankruptcy as for that which had paid on the day on which they are elapsed before it. Pott v, Bear, I received, or the day following, either Car. & Kir. 335. by such remittances, or by remit- 7. R. M., who carries on business tances according to the directions of in partnership with J. C., J. P. and the circular. The first bankers give T. S., as bankers, signs one of the the second credit in their books for notes of the bank in this form, " I the amount of the cheques, but be- promise to pay," &c. “ For J. C., come bankrupt three days after re- J. P., R. M. and T. S.-R. M." ceiving them, and without having on the firm becoming bankrupts,

« PreviousContinue »