Freiburg v. Dreyfus

Citations

• 135 U.S. 478
• 10 S. Ct. 716
• 34 L. Ed. 206
• 1890 U.S. LEXIS 2034

Syllabus

<p>D., a resident at New Orleans, being at the time insolvent, transferred to M. certain goods in a warehouse as a dation en ■paiement. M. pledged these goods to E. to secure 115,000, of which $5000 was loaned in cash, and $10,000 in two notes for $5000 each, which notes were executed in all respects in the manner required by the Civil Code of Louisiana, §§ 3157, . 3158, in order to secure á privilege and preference under those sections. A creditor of D. commenced an action at law. against him and caused these goods to be sequestered, and subsequently filed a bill in equity to set aside the whole transaction as fraudulent. Pending the proceedings the two notes matured and were paid by E.; Held,</p> <p>(1) That these instruments were sufficient under the laws of Louisiana;</p> <p>(2) That they were, not simulated, but that the transaction was bona fide.</p>