P. J. Peters Saddlery & Harness Co. v. Schoelkopf & Co.

Citations

• 71 Tex. 418
• 9 S.W. 336
• 1888 Tex. LEXIS 1160

Syllabus

<p>1. Claim Bond for Trial of Right of Property Where property is seized under several writs, a claim bond for the trial of the right to the property is properly made payable to the plaintiffs in all the writs levied, and but one bond is necessary or proper.</p> <p>2. Sale by Failing Debtor.—A failing debtor by bill of sale conveys to one of his creditors his stock of goods, and immediately thereafter the creditor, by written contract, employs the debtor to take charge of and sell the goods. Held:</p> <p>(1) The two instruments may be read together as evidencing the transactions between the two parties.</p> <p>(2) That the employment of the debtor is not fraud per se, but only a badge of fraud to be explained by circumstances.</p> <p>(3) That, there being nothing to show that the debt for which the transfer was made was kept in existence, the transaction was not a. mortgage.</p> <p>3. Creditor Taking Goods in Payment.—A creditor can take from, a failing debtor goods in payment of his debt, although the effect be to hinder other creditors. Only so much can be taken as reasonably sufñcent to discharge the debt ; but a slight excess, not taken by design, will not avoid such transaction.</p>