Summary

Portrait of Joseph Story Joseph Story M'Donald v Bank of the United States…

It merely provides in general terms that M'Donald shall pay to the children 'as much money as they shall have a right to demand,' &c. when they shall come of age, and in the intermediate time they are to receive an amount sufficient for their support and maintenance. Even this contract is left wholly without any mortgage or other security for its fulfilment, either to Venable or to the children; and Venable strips himself of his whole estate, and relies exclusively upon the good faith and solvency of M'Donald, to extricate himself from all future difficulties.
Source: Wikisource

Portrait of Joseph Story Joseph Story M'Donald v Bank of the United States…

Looking to the nature of the transaction, the assumed confederations, the relation and circumstances of the parties, the impending decree, the sweeping extent of the deeds, the non-disclosure, on the face of them, of the real considerations, the objects of the collateral and secret contract, the very great doubt as to what was due to the children, and the ambiguous explanations of the parties; we think the presumptions are so strong against the validity of the deeds, that they ought not to be supported.
Source: Wikisource

Portrait of Joseph Story Joseph Story M'Donald v Bank of the United States…

Here then is the case of a person upon the eve of a decree being rendered against him for a large sum of money, which it is admitted would go far to his ruin, making conveyances of his whole property real and personal to his brother-in-law, for an asserted consideration equal to its full value. The brother-in-law is proved to be a thrifty, industrious man, but not at the time known to possess property sufficient to pay the purchase money; having other pursuits; and as soon as the purchase is made, suffering the estate to remain in possession of the former tenant.
Source: Wikisource

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