In re Jones

Citations

• 123 F. 128
• 1903 U.S. Dist. LEXIS 211

Syllabus

<p>3. Bankruptcy—Provable Claim—Surrender of Preferences.</p> <p>Where notes given by a debtor to close an account' for goods were still held by the creditor and unpaid at the time a further indebtedness on account was contracted, both notes and account constituted the indebtedness then due, and a payment of the notes thereafter, when the debtor was insolvent, and within four months prior to his bankruptcy, constituted the giving of a preference, which must be surrendered before the account can he proved.</p> <p>2. Same—New Credits.</p> <p>Bankr. Act July 1, 1898, § 60c, 30 Stat. 562, c. 541 [U. S. Comp. St. 1901, p. 3446], allowing new credits to be set off against preferences received by the creditor,, applies only to preferences recoverable under clause “b.”</p>