Louis Brandeis

Benedict v. Ratner — Opinion of the Court

Summary

Quotes from Benedict v. Ratner — Opinion of the Court (Louis Brandeis)

Louis Brandeis,  Benedict v. Ratner — Opinion of the Court

“ It does no more than to substitute the mortgagor as the agent of the mortgagee to do exactly what the latter had the right to do, and what it was his privilege and his duty to accomplish. It devotes, as it should, the mortgaged property to the payment of the mortgage debt.' The permission to use the proceeds to furnish substitute collateral 'provides only for a shifting of the lien from one piece of property to another taken in exchange.' Brackett v. ”
Source: Wikisource

Louis Brandeis,  Benedict v. Ratner — Opinion of the Court

“ The doctrine which imputes fraud where full dominion is reserved must apply to assignments of accounts although the doctrine of ostensible ownership does not. There must also be the same distinction as to degrees of dominion. Thus, although an agreement that the assignor of accounts shall collect them and pay the proceeds to the assignee will not invalidate the assignment which it accompanies, [18] the assignment must be deemed fraudulent in law if it is agreed that the assignor may use the proceeds as he sees fit. ”
Source: Wikisource

Louis Brandeis,  Benedict v. Ratner — Opinion of the Court

“ The rights of the parties depend primarily upon the law of New York. Hiscock v. Varick Bank of N. Y., 206 U.S. 28, 27 S.C.t. 681, 51 L. Ed. 945. It may be assumed that, unless the arrangement of May 23 was void because fraudulent in law, the original assignment of the future acquired accounts became operative under the state law, both as to those paid over to Ratner before the bankruptcy proceedings and as to those collected by the receiver; [1] and that the assignment will be deemed to have taken effect as of May 23. ”
Source: Wikisource

Common terms

Similar works

Get perspective with Kwize: daily news enlightened by great literature