Schmidt v. Bank of Commerce

Citations

• 15 N.M. 470
• 110 P. 613

Syllabus

<p>SYLLABUS.</p> <p>1. In an action brought by a trustee in bankruptcy to recover a voidable preference, the intent of the bankrupt in making the preference is immaterial.</p> <p>2. Where creditor bank persuaded and induced a bankrupt to pay it money for the express purpose and with the intent to apply.the same upon the indebtedness then owing by the bankrupt to the creditor bank, no question of the right of set-off for money deposited in the ordinary course of business arises.</p>