Comly v. Waters

Citations

• 2 Del. Ch. 72

Syllabus

<p>An inquiry, whether there was any and what consideration existing at the time of the execution of a certain writing obligatory, does not present a sufficiently distinct fact to be the subject of an issue out of Chancery, for trial by a jury.</p> <p>The Chancellor will not, upon application, order issues for trial by a jury respecting facts not material, in his judgment, to a decree in the cause.</p> <p>A debtor in failing circumstances gave his bond tó one creditor to secure a - debt due to such creditor, and as to the balance under a paroi trust to' pay certain other creditors, per schedule. Held, void as to the other creditors, who were not named in the bond and with whom there was no communication.</p> <p>Such a transaction does uot create a trust in favor of the creditors. The bond is revocable at the will of the obligor ; and it is prohibited by the Statute of Frauds.</p> <p>A bond given by a debtor in failing circumstances, covering all his property for the benefit of preferred creditors, is contrary to the policy of the Statute against fraudulent insolvency.</p>