Delphia Knitting Mills Co. v. Richards

Citations

• 62 Pa. Super. 9
• 1915 Pa. Super. LEXIS 388

Syllabus

<p>Execution — Sheriff’s interpleader — Eraud—Transfer of title to property of corporation — Retention of possession — Husband and wife.</p> <p>Where a person engaged in business and owning all the assets thereof, organizes a corporation, transfers the business and assets to it by a bill of sale, causes the stock of the company to be issued to his wife, and thereafter continues in absolute control of the business and the assets transferred, in name, to the corporation, the transaction involves a fraud upon his pre-existing creditors, and they may seize the goods on execution against him notwithstanding the transfer to the corporation.</p>