Troy Wagon Works v. Vastbinder

Citations

• 130 F. 232
• 1904 U.S. Dist. LEXIS 252

Syllabus

<p>1. Bankruptcy — act of Bankruptcy — Evidence.</p> <p>On an issue as to the commission of an act of bankruptcy by transferring notes with intent to give a preference, statements in the contract under which goods were furnished to the alleged bankrupt that he took the same for sale on commission, the notes to belong to the party to whom they were transferred, are not conclusive where the whole contract, taken together, shows that defendant became obligated to pay the invoice price' of the goods, and the notes were taken in his name and indorsed by him.</p> <p>2. Same — Involuntary Proceedings — Issues.</p> <p>Where the act of bankruptcy charged in an involuntary petition was the giving of á preference while insolvent, a denial in the answer that defendant committed such act of bankruptcy must be construed as a denial of insolvency, at least where it has been so accepted by the petitioners and evidence taken on the issue.</p> <p>3. Same — Proof of Insolvency.</p> <p>Evidence examined, and held insufficient to show insolvency at the time of the commission of the act of bankruptcy alleged.</p>