242 F. 255 | 3rd Cir. | 1917
The original contractor having, as we said, defaulted on his contract, the executors of James Jones, in pursuance of tire family arrangement, hired another contractor and made a new contract. The house was finished at an additional cost to the estate of over $2,400. There was proof tending to show that the lot on which the house stood was worth from $250 to $300. Carrying out the family arrangement, Thomas P., on January 15, 1913, conveyed the lot to Samuel, and the deed was promptly placed on record. It is admitted that the above actions were taken in good faith, and' the trial court, stated that it “cannot find that he [Thomas P. Jones] was actuated by "(desire to hinder, delay, or defraud his creditors by making the conveyance to his son.” It, however, held that Thomas P. Jones was insolvent at the time the conveyance was made, and that therefore the conveyance, without reference to its admitted honesty of purpose, was invalid against creditors. Such being the holding of the court below, it is apparent that its decree is based on the fact of the insolvency of Thomas P. Jones when he'made the conveyance.
“There is no doubt that, at the time of making the conveyance, the said Thomas P. Jones believed that his financial condition was better than it actually was.”
We have carefully examined the entire record, and we are unable to find proofs of such facts as warranted a finding of insolvency.
In view of these facts, of the lack of affirmative proof, and of the equitable consideration that the thing of real value here, to wit, the house, which was built under a new contract, with funds furnished in the main by the widow and heirs of James Jones, out of respect to the wishes of a deceased husband and father, and that such house was not built on the lot by Thomas P. Jones, and in that sense was not equitably his property, we feel that both legal and equitable justice is done by dismissing this bill.