Assigned Estate of Myers

Citations

• 192 Pa. 458
• 43 A. 998
• 1899 Pa. LEXIS 940

Syllabus

<p>Assignment for creditors—Sales under the act of February 17, 1876_ Discretion of court.</p> <p>An assignee’s sale under the act of February 17, 1876, by order of the court, for the discharge of liens, stands upon an intermediate ground between a sheriff’s sale which cannot be set aside for mere inadequacy of price and an orphans’ court sale which may be set aside for inadequacy of price, without more.</p> <p>The right of lien creditors to collect their claims by execution was not taken from them by the act of 1876 except in cases where the estate “is incumbered with liens to such an extent as to render it difficult to determine whether the same can be sold for enough to pay all the liens,” and then only “ where the court shall deem it for the manifest interest of all parties.”</p> <p>The reason for ordering a sale which will discharge liens is that a better price may-be obtained by enabling bidders to know what they are buying. The supervision to be exercised by the court after the sale is in the interest of all parties, but the limited purpose of the act should be kept in view.</p> <p>On an application to set aside an assignee’s sale, it appeared that there was no fraud or irregulai’ity in the sale and the land brought a fair price. An offer to bid $10.00 per acre more at another sale was made by a trustee for the wife of the assignor, to whom a judgment had been confessed before the assignment, under which all the personal property was sold. The fund realized was sufficient to pay all judgments prior in lien to that of the trustee. Held, that the court committed no error in refusing to set aside the sale.</p>