McAvoy v. Jennings

Citations

• 44 Wash. 79

Syllabus

<p>Fraudulent Conveyances — Action to Set Aside — Complaint—Insolvency. The complaint in an action by a creditor to set aside a fraudulent composition with creditors is demurrable where it fails to allege either the insolvency of the debtors or an execution and return of nulla bona.</p> <p>Same — Preferences. A debtor in failing circumstances may make a preference to a portion of his creditors, transferring his property to a trustee for equal division among such of the creditors as will stipulate to discharge their claims upon receiving their pro rata share of the assets.</p> <p>Same — Sales In Bulk — Compositions With Creditors. A transfer of a stock of goods to a trustee, to be sold and applied to debts as a composition with all creditors who would discharge their claims upon receiving their pro rata share of the proceeds, is not a sale of goods in bulk within the meaning of Laws 1901, p. 222, regulating such sales.</p>