Maxwell v. Wilmington Dental Mfg. Co.

Citations

• 101 F. 852
• 1900 U.S. App. LEXIS 5186

Syllabus

<p>Receivers — Advances—Priorities.</p> <p>Where some of the creditors of a corporation in the hands of a receiver advance money for the purpose of compromising a demand against the company and take the notes of the company for the money so advanced without an order -of court authorizing the borrowing of money for such purpose, and without any undertaking on the part of the receiver that they shall be preferred creditors to the extent of the amount advanced, they are not entitled by reason of such advance to any priority of payment out of the assets.</p> <p>(Syllabus by the Court.)</p>