Sperry Rand Corp. v. Larson

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• discussing “present fair saleable value” under the Bankruptcy Act of 1898
• collateral benefits of debtor’s guarantees of loans to affiliated corporation might support finding of fair consideration
• The statutory purpose is to conserve the debtor’s estate for the benefit of the creditors
• “although ‘transfers solely for the benefit of third parties do not furnish fair consideration’ ... the transaction’s benefit to the debtor ‘need not be direct; it may come indirectly through benefit to a third person.”
• “If the consideration given to the third person has ultimately landed in the debtor’s hands, or if the giving of the consideration to the third person otherwise confers an economic benefit upon the debtor, then the debtor’s net worth has been preserved_”

Source: CourtListener parenthetical corpus (CC0).