Real Estate Investment Company's Assigned Estate

Citations

• 215 Pa. 50
• 64 A. 331
• 1906 Pa. LEXIS 727

Syllabus

<p>Assignment for creditors — Distribution—Contract—Compromise—Valuation of property.</p> <p>Where a debtor agrees, in compromise of a claim which he deems exorbitant, to transfer to his creditor houses and stock of a corporation at a valuation, which the agreement on its face shows is in excess of the market value, and before the agreement is executed, the debtor makes an assignment for creditors, the creditor on distribution will be entitled to a dividend only upon the market value of the houses and stock, and not upon the valuation stated in the agreement.</p>