Russell v. Powell, Roberts & Finley

Citations

• 38 Wash. 651
• 80 P. 837
• 1905 Wash. LEXIS 1226

Syllabus

<p>Bankruptcy—Preference—Transfer of Property to Creditors —Validity. Where a bankrupt, within four months of his assignment, agreed to transfer certain property to two of his creditors in satisfaction of their claims, a transfer through a third party, who delivered a check in payment for the property, is void where the check was immediately transferred to the creditors, and by them back to the third party.</p> <p>Same—Liability of Creditors Returning the Property. Where the bankrupt transferred certain of his property to two of his creditors, within four months of his assignment, in payment of their claims, the trustee is hound to accept a return of the property when tendered by the creditors, with the full value of any of the property sold by them, and cannot hold the creditors liable for the value of the property as fixed by the parties at the time it was received.</p>