Summary

Portrait of David Josiah Brewer David Josiah Brewer Schreyer v. Platt — Opinion of the Court

Recapitulating, the conveyances in 1871 were meritorious, upon good consideration, made by one in debt in only a trifling sum, and retaining an abundance of property for the discharge of those debts, and who in fact subsequently, and as they became due, paid them; made by one continuing and expecting to continue in the same profitable and not hazardous business in which he had been engaged for nearly a score of years, with no thought of entering upon any new or hazardous business, and more than three years before any liability to Vanderbilt was incurred or even thought of.
Source: Wikisource

Portrait of David Josiah Brewer David Josiah Brewer Schreyer v. Platt — Opinion of the Court

Two years thereafter, owing to depreciation in value of real estate, the property covered by this $5,000 bond and mortgage was sold under foreclosure of the $16,000 mortgage, and realized only enough to pay that. Hence, Schreyer became liable on his guaranty. Is there anything in these facts to show fraud in intent, or fraud in result? Obviously, not. Vanderbilt entered into his contract with full knowledge of all the circumstances, unquestionably considering the $5,000 bond and mortgage well secured, and willing to take his chances of its payment on foreclosure, if not otherwise.
Source: Wikisource

Portrait of David Josiah Brewer David Josiah Brewer Schreyer v. Platt — Opinion of the Court

Husband and wife evidently saw no necessity of dealing with each other at arms-length. The title to the property was placed in her name when there was no legal or equitable reason why it should not be done; and the rents and other cash receipts were not unnaturally kept in one account, and handled as one fund. The lack of substantial indebtedness, and the record of the transfer, being established, the carelessness of their dealings tends to prove honesty, rather than to establish fraud.
Source: Wikisource

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