Pennsylvania Knitting Mills of Reading v. Bibb Manufacturing Co.

Citations

• 12 Pa. Super. 346
• 1900 Pa. Super. LEXIS 244

Syllabus

<p>Fraudulent sale — Interpleader issue — Nonassenting creditors of vendors —Evidence—Inquiry as to charier of plaintiff company.</p> <p>When individuals or corporations transfer their property to a new corporation, substantially owned and controlled by the transferrers, the new corporation takes the property subject to the claims of the nonassenting creditors of the transferrers. It follows, therefore, that on the trial of an inter-pleader issue between two companies of which the plaintiff claims as transferee of the judgment debtor of the defendant, that while it is proper to permit inquiry into the charter and ownership of the plaintiff company, it is not error to exclude such line of inquiry as to defendant corporation..</p> <p>Sale by insolvent debtor — Reservation of benefits.</p> <p>The transfer of property by an insolvent debtor for an inadequate price and in consideration of an undertaking to pay a portion only of his debts, and a reservation of benefits to himself is void as against his creditors, nonassenting.</p> <p>Feigned issue — Act of 1897 construed — Verdict molded by defendant's judgment, etc.</p> <p>Under the feigned issue Act of May 26, 1897, P. L. 95, the court will so mold the verdict and judgment that when a recovery is had against a claimant who has taken the goods, a verdict and judgmentmay be entered against the claimant up to the value of the goods, but not exceeding the claim of the defendant for the amount of his execution and costs.</p>