Owen J. Roberts

Name: Pufahl v. Parks' Estate — Opinion of the Court
Author: Owen J. Roberts

Pufahl v. Parks' Estate — Opinion of the Court

Summary

“Pufahl v. Parks' Estate — Opinion of the Court”, is a work by Owen J. Roberts. It explores elements such as assets, decedent and claim.

Quotes from Pufahl v. Parks' Estate — Opinion of the Court (Owen J. Roberts)

Owen J. Roberts, Pufahl v. Parks' Estate — Opinion of the Court

“ If the state law requires a claim for an assessment to be prosecuted in an action of debt the receiver cannot elect to bring some other form of action or to sue in equity; conversely, if the law prescribes a suit in equity the receiver cannot bring an action at law. And if under the state statutes demands against a decedent's estate must be proved in a probate court the receiver cannot pursue some other form of action. This is not to say that a state may deny all remedy for the substantive right arising out of the federal statute (see Seabury v. Green, supra) ”

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Source: Wikisource

Owen J. Roberts, Pufahl v. Parks' Estate — Opinion of the Court

“ Notwithstanding the statute providing that the citizenship of a national bank, for purposes of federal jurisdiction, shall be as if it were a corporation of the state where it has its place of business, the receiver is an officer of the United States and, as such, entitled to sue for assessments in a federal court, irrespective of the citizenship of the parties or the amount in controversy. ”

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Source: Wikisource

Owen J. Roberts, Pufahl v. Parks' Estate — Opinion of the Court

“ Where, as here, a res has come into the possession and under the control of a state court, one having a right to go into the federal court, either by reason of diversity of citizenship, or because he is a federal officer, cannot obtain a judgment or decree entitling him to interfere with the administration of the res by the court having its possession. ”

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Source: Wikisource

Owen J. Roberts, Pufahl v. Parks' Estate — Opinion of the Court

“ In that case a circuit court of the Unied States entered a decree charging the assets in the hands of an executor with the amount of an assessment levied after the decedent's death. It is not clear from the opinion whether the court thought that section 66 creates a lien on estate assets from the date of the bank's failure or construed the section as creating a claim sui generis enforceable directly against assets in the possession of the executrix and under the control of a state court of competent jurisdiction. As we have shown above, either theory is wrong. ”

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Source: Wikisource

Owen J. Roberts, Pufahl v. Parks' Estate — Opinion of the Court

“ In such a proceeding the state statute of limitations will be applied; [6] and it seems that the local substantive law governing property rights in stock will be observed. [7] Nor does the principle that the jurisdiction of courts of the United States cannot be defeated by a state's laws limiting redress of its own citizens to certain tribunals [8] create such inconsistency or conflict as to require the overriding of the law of the state with respect to distribution of the estate of a decedent. ”

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Source: Wikisource

Owen J. Roberts, Pufahl v. Parks' Estate — Opinion of the Court

“ The sixth class is:
'Sixth. All other debts and demands of whatever kind without regard to quality or dignity, which shall be exhibited to the court within one year from granting of letters as aforesaid.
'All claims and demands of whatever class not exhibited to the court within one year [13] from the granting of letters as aforesaid shall be forever barred as to property and estate of the deceased which has been inventoried or accounted for by the executor or administrator ”

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Source: Wikisource

Owen J. Roberts, Pufahl v. Parks' Estate — Opinion of the Court

“ U.S.C.Tit. 12, § 64 (12 U.S.C.A. § 64) is in part:
'The stockholders of every national banking association shall be held individually responsible for all contracts, debts, and engagements of such association, each to the amount of his stock therein, at the par value thereof in addition to the amount invested in such stock.'
'Persons holding stock as executors, administrators, guardians, or trustees, shall not be personally subject to any liabilities as stockholders ”

Owen J. Roberts

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