Kimball v. E. A. Rosenham Co.

Citations

• 114 F. 85
• 52 C.C.A. 33
• 1902 U.S. App. LEXIS 4064

Syllabus

<p>3. Bankruptcy — Payments on Account Current no Peeiterenois Wiiekh Subsequent Credits Exceed Them.</p> <p>The receipt by a creditor of payments upon an account current in the usual course of business, which are followed by new credits for property delivered to the debtor which becomes a part of his estate, for which the creditor is not paid, and which equals or exceeds in amount and value the payments, does not constitute a preference, under section (iOa, and does not require the creditor to surrender such payments as a condition of the allowance of his claim, under section 57g, of the bankrupt act of 1898.</p> <p>2. Same — Creditor’s Claim on Account Current not Divisible,</p> <p>The claim of a creditor for a balance due upon an account current with the bankrupt is one single claim, and, in determining its allowance and the existence of alleged preferences arising out of the acts it evidences, it must be so considered. It may not be divided iuto its items or into separate claims for that purpose.</p> <p>(Syllabus by the Court.)</p>