Elser v. Graber

Citations

• 69 Tex. 222
• 6 S.W. 560
• 1887 Tex. LEXIS 808

Syllabus

<p>1. Attachment — Claimant’s Bond — Practice . — The proper practice when property is levied on by two or more writs of attachment, and is claimed by one other than the defendant'in attachment, is to execute one claim bond payable to all the plaintiffs in the writs.</p> <p>2. Case Reviewed. — Green v. Banks, 24 Texas, 508, reviewed.</p> <p>3. Fraudulent Sale — Insolvent.—A creditor may not only lawfully receive from his debtor with notice of the insolveney of the latter, enough property to pay his debt, but he may receive more of such property than would in value be adequate to discharge the debt, provided he is bound by the terms of the sale to see that the excess of purchase money over his debt is honestly applied to the payment of other debts, and secures it to be thus appropriated. If, however, the preferred creditor executes his note for the excess to the vendor, he contributes to place the excess beyond the reach of other creditors, thus tainting the entire transaction, so that it becomes fraudulent in law.</p>