84 Md. 341 | Md. | 1896
delivered the opinion of the Court.
James L. Smith, on the fifteenth day of January, eighteen hundred and ninety-six, made application for the benefit. of the insolvent laws. On the first day of February following, John R. Pattison, his permanent trustee, filed a bill in equity against James H. Smith, for the purpose of setting aside a sale of goods and merchandise which had been made to him by the insolvent on the twenty-seventh day of December, eighteen hundred and nine.ty-five. It was alleged in the bill of complaint that the’sale was made with
James L. Smith was engaged in business as a country merchant at East New Market and at Secretary, two villages in Dorchester County; having a stock of goods at each place; James H. Smith was carrying on a similar business at Vienna, another village in the same county. These villages are within a few miles of each other. On the twenty-seventh of December, eighteen hundred and ninety-five, James L. Smith, James H. Smith, his father, and Lewis L. Smith, his brother, met at night in the father’s storehouse, in Vienna, and then and there James, the son, sold to his father his stock of goods at East New Market. The price named in the sale was five thousand seven hundred and thirteen dollars and eighty-five cents. James, the father, borrowed at the same time from his son Lewis twenty-three hundred dollars, and paid the money thus borrowed to his son James and gave him his check for three hundred dollars, and at the same time delivered to him his five promissory notes for the remainder of the purchase money. James, the son, then and there paid to his brother Lewis two thousand dollars which he owed him. Afterwards James, the father, executed a mortgage to Lewris to secure the payment of the money borrowed from him. On the first of January Lewis purchased from his father the Vienna stock of goods at the price of two thousand dollars, and after-wards credited this amount on the mortgage. On the seventh of January Lewis purchased from James, the son, the five notes given by the father as part of the price of the New Market goods, and paid him two thousand dollars for them ; said notes aggregating three thousand one hundred and thirteen dollars and eighty-five cents. On the fifteenth
Decree affirmed with costs.