45 A. 560 | N.H. | 1898
"This is an equitable proceeding. In the absence of fraud, a trustee can be charged for only what, at the time of service or afterwards, is equitably due to the defendant." Carter v. Webster,
The oral assents, accompanied by agreements to assent in writing, furnished a sufficient consideration to make the trust *534
agreement binding. Wheeler v. Emerson,
Here was a bona fide transfer for the benefit of creditors. The agreement of the creditors to assent to it gave it a sufficient consideration, and, unless the assignment violates some rule of law, the claimants are entitled to the funds. It was early held in this state that common-law assignments for the benefit of creditors, even with preferences, were valid. Haven v. Richardson,
In Dalton v. Currier,
Apart from statute, a common-law assignment for the benefit of creditors, made in good faith and supported by a sufficient consideration, cannot be avoided by dissenting creditors. Fellows v. Greenleaf,
As the assignment under consideration would be enforced if it had been made here, the question arises as to its effect when made in another state. An assignment under the insolvency laws of another state will not pass the title to the debtor's property in this state as against a subsequent attachment thereof by citizen of this state. Carbee v. Mason,
The assignment was so far an exercise of the personal rights of the debtors that its operation is not limited by the boundaries of the state in which it was made, but its effect upon property is to be determined by the lex rei sitae. The agreement was made with reference to and must be governed by such law. Clark v. Tarbell,
The assignment was a bar to the right of the principal defendants to recover these funds, and, no fraud being shown, it is equally a bar to the plaintiff's recovery of the same.
Notice of the assignment to the trustees was not necessary. Pollard v. Pollard,
Trustees discharged.
All concurred. *536