Edwards v. Dickson

Citations

• 66 Tex. 613
• 2 S.W. 718
• 1886 Tex. LEXIS 580

Syllabus

<p>1. Insolvent debtor—Sale of goods to creditor—The right of a creditor to purchase of a debtor in Jailing circumstances a sufficient amount of property to pay his debt, is well settled, although the necessary consequence of the transaction is to hinder and delay other creditors in the collection of their debts. (Authorities cited.)</p> <p>2. Same—Good faith—Rule qualified—No more property must be transferred than is essential to pay the debt at a fair valuation, and the transaction must be open and bona fide, that is, the sale must be absolute, not attended with any secret trust for the benefit of the debtor, and not a mere colorable transaction. (Greenleve, Block & Co. v. Blum, 59 Tex., 126.)</p> <p>3. Same—Intent—Notice—If the transfer is bona fide, made with intent to satisfy the debt, and no more property is transferred than is necessary for that purpose, then it matters not whether or not the debtor intended to hinder or delay his creditors, or whether the creditor knew or ought to have known of such an intent, if it existed. See opinion for charge held erroneous. 4. Fraud—Evidence—Possession of vendor after sale—Possession on the part of the seller after the sale is not fraud per se, but is prima facie evidence of fraud, subject to be rebutted by other evidence explanatory of the possession, showing that it is consistent with a fair transaction. (Authorities cited.)</p> <p>5. Equitable estoppel—How created—Equitable estoppel is the effect of voluntary conduct of a party whereby he is precluded both at law and in equity from asserting the rights which might perhaps have otherwise existed, either of property, of contract or of remedy, as against another person who has, in good faith, relied upon such conduct, and has been led thereby to change his position for the worse, and who on his part acquires some corresponding right, either of property, of contract or of remedy.</p> <p>6. Same—Representation—The conduct creating the estoppel must be something which amo