285 Mass. 129 | Mass. | 1934
The plaintiff is a creditor of the defendant corporation in the sum of $1,576.64 with interest from September 13, 1932, and the defendant corporation neglected
The defendants attack the conclusion of the judge that on reasonable examination they could have known that the valuation stated was false and excessive. Though value rests upon opinion, it is a fact, and one constantly found by juries. The fact of value may be stated falsely. A false statement of value has been the foundation for a conviction of perjury. Commonwealth v. Butland, 119 Mass. 317. It has likewise supported an action for deceit. Andrews v. Jackson, 168 Mass. 266. Butler v. Martin, 247 Mass. 169. Reinherz v. American Piano Co. 254 Mass. 411, 420, 421. The cases in which a false representation as to value has been held nonactionable go on the ground that where the defendant has stated merely his own opinion rather than the opinion of the market which determines value, the plaintiff ought not to rely upon the representation. Deming v. Darling, 148 Mass. 504. Lynch v. Murphy, 171 Mass. 307. Gaucher v. Solomon, 279 Mass. 296, 299. Nevertheless,
The defendant Plimpton filed a petition in bankruptcy on February 26, 1932, and on June 17, 1932, obtained his discharge, which he set up in bar of this suit. Bankruptcy discharges only provable debts. 42 U. S. Sts. at Large, 354, c. 22. Smith v. McQuillin, 193 Mass. 289. Ellis v. Burnham, 263 Mass. 57, 59. Provable debts include those which are “ (1) a fixed liability, as evidenced by a judgment or an instrument in writing, absolutely owing at the time of the filing of the petition . . . whether then payable or not ... (4) founded upon an open account, or upon a contract express or implied . . . .” 30 U. S. Sts. at Large, 562, § 63. The provision following that, for the liquidation and proof of unliquidated claims, relates only to unliquidated claims provable under the passage quoted, and does not enlarge the class of provable claims. Old Colony Boot & Shoe Co. v. Parker-Sampson-Adams Co. 183 Mass. 557, 561, 562. Cotting v. Hooper, Lewis & Co. Inc. 220 Mass. 273, 275. Schall v. Camors, 251 U. S. 239, 249-251. Claims “founded . . . upon a contract” need not be absolutely owing at the time of filing the petition in order to be provable, but may be liquidated pending the proceedings, and then proved. Frederic L. Grant Shoe Co. v. W. M. Laird Co. 212 U. S. 445. Williams v. United States Fidelity & Guaranty Co. 236 U. S. 549. Maynard v. Elliott, 283 U. S. 273. See Ellis v. Burnham, 263 Mass. 57; Quirk v. Smith, 268 Mass. 536. The liability for an assessment upon stockholders in a trust company “is an essential element in the contract by which the stockholders became members of the corporation,”
Decree affirmed with costs.