McKenty v. Gladwin, Hugg & Co.

Citations

• 10 Cal. 227
• 1858 Cal. LEXIS 220

Syllabus

<p>It is too late to raise an objection in this Court, for the first time, that certain parties could not intervene in a suit pending in the District Court, when such objection was not made in the Court below.</p> <p>If a party, by ante-dating a promissory note, and making it draw interest from date, secures to himself a certain sum of money, not justly due to him for any past or present consideration, he takes that much from the other creditors, and they are just as much injured as if that amount had been included as a part of the principal sum itself.</p> <p>The Statute of Frauds makes every bond or other evidence of debt, given with intent to hinder, delay, or defraud creditors, void.</p> <p>If a part of the sum, secured to be paid by the promissory note, whether principal or interest, is illegal, the note must defraud creditors, if enforced, and is, therefore, void, under the positive provisions of the statute.</p> <p>Where a note is tftite-dated for the purpose of making it draw interest, for which there is no consideration, it is void as to creditors.</p>