Nix, Halsell & Co. v. Underhill

Nix, Halsell & Co. Et Al. v. H. W. Underhill Et Al.

Nix, Halsell & Co. v. Underhill, 1899 OK 34, 56 P. 959

Court: Supreme Court of Oklahoma · State Highest Courts
Decided: February 11, 1899
Judges: Tarsnev
Citations: 56 P. 9591899 OK 348 Okla. 1231899 Okla. LEXIS 33
Disposition: Affirmed.

Cited by 4

Syllabus

Chattel Mortgage — Insolvent. Debtors — Preferred Creditors. An insolvent debtor may make conveyances of the whole or any part of his property, by chattel mortgages, to one or more of his creditors, in good faith, for the security of bona fide indebtedness, in exclusion of other creditors. Such conveyances do not -constitute an asignment of the property in trust for tlie benefit of all creditors, to be administered by a receiver in a court of equity. (Syllabus by the Court.)

Summary

Error from the District Court of Logan County; before Frank Dale, District Judge. Action by Nix, Halsell & Co. and 'others against H. W. Underhill and others to have certain chattel mortgages declared an equitable assignment for the benefit of creditors, and for the appointment of a receiver. From a judgment sustaining a demurrer to the petition of the plaintiffs, and dismissing the cause, plaintiffs bring error.

Syllabus and headnotes are prepared by the reporter or publisher, not the court, and are not part of the opinion.

Opinion of the Court — Tarsnev

Opinion of the court by Tarsnev, J.:

This cause is- here upon a transcript of the record. The facts and circumstances shown by this Tec-ord present precisely the same question involved in Smith v. Baker, 5 Okla. 326 , 49 Pac. 61 , and Smith-McCord Dry-Goods Co. v. John B. Farwell & Co., 6 Okla. 318 , 50 Pac.

*124 149, wherein it was held that, where an insolvent debtor-makes conveyances of the whole of his property, by chat-tie mortgage, to one or more of his creditors, in good faith, for the security of a Iona, fide indebtedness, although in exclusion of other creditors, the transaction lacks the essential elements- of a trust for the benefit of creditors, and is not brought within the statute relating to voluntary assignments. The statute regulating and permitting voluntary assignments by insolvent debtors for the benefit of creditors- was not intended to, and does n-o-t, affect -or qualify the rights of such debtors to make preferences among their creditors under section 4, ch. 5 Statutes 1893. Upon the authority of those cases, the judgment herein is affirmed.

All of the Justices concurring.

How later courts describe this case

No later court has written an explanatory parenthetical about this case yet.

Cited by 4 cases

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State Highest Courts4

Relies on it most ⓘ

First Nat. Bank of Alex v. Southland Production Co.1941 OK 87, 112 P.2d 1087
Noble v. Ft. Smith Wholesale Grocery Co.1911 OK 310, 127 P. 14
Hoppe Hardware Co. v. Bain1908 OK 89, 95 P. 765
Wasson v. Anglo-Texas Oil Co.1928 OK 12, 264 P. 164

Most recent

First Nat. Bank of Alex v. Southland Production Co.1941 OK 87, 112 P.2d 1087
Wasson v. Anglo-Texas Oil Co.1928 OK 12, 264 P. 164
Noble v. Ft. Smith Wholesale Grocery Co.1911 OK 310, 127 P. 14
Hoppe Hardware Co. v. Bain1908 OK 89, 95 P. 765

Citing references are not a citator: they show that a later opinion cites this case, not whether it followed, distinguished, or overruled it. Check negative history before relying on this case.

Authorities cited 2

Depth	Case	Cited by
	Smith v. Baker, 1897 OK 37, 49 P. 61	13
	Smith-M'Cord Dry Goods Co. v. Jno. B. Farwell Co., 50 P. 149 (Okla. 1897)	7

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