Levy v. Scott

Citations

• 115 Cal. 39
• 46 P. 892
• 1896 Cal. LEXIS 968

Syllabus

<p>Fraudulent Transfer—Presumption—Evidence of Fraud—Circumstantial Proofs, when Insufficient.—The presumption of the law, except when confidential relations are involved, is always in favor of the fair dealings of the parties; and, although fraud may be proved by circumstantial evidence, yet the circumstances must amount to proof of fraud, and not to a mere suspicion thereof; and if the circumstances comport with the theory of honesty and fair dealing, and there is no direct proof of fraud, the conclusion that a debtor had transferred personal property in fraud of his creditors is not sustained by the evidence.</p> <p>Id. — Continued Change of Possession—Employments of Vendor.— When there is an immediate delivery and change of possession of personal property sold, and an unequivocal change of possession so long continued as to give notice to the world that ownership has been parted with, it is not essential to a continuous change of possession that the vendor shall never afterward be in charge of the property as an agent or employee of the vendee, or of his successor in interest.</p> <p>Id.—Settlement with Creditors—Assignment to Agent of Board of Trade.—Where a debtor, upon settlement with his creditors, and in consideration of a release of their claims, made an absolute assignment of his property to a person representing the board of trade, the transaction, as between the parties, is not an assignment for the benefit of creditors, but an absolute sale, which passes an unimpeachable title for a valuable consideration, which the assignee can convey to a subsequent purchaser of the property for value.</p> <p>Id.— Replevin of Property Seized by Sheriff — Evidence—Cost of Replacing Property Sold.—In an action to recover the possession of .property seized by the sheriff from the possession of a successor in interest of the execution debtor, or its value, it is error to refuse to allow the plaintiff to prove what it would cost to purchase in open market, and replace the