Creditor

“ What may be right between the defendant and his creditors is as difficult to determine as if he had no such standard. It is not absolutely certain that it is right for a creditor, seizing his debtor, to say, Pay me what thou owest, or that it is wrong for the debtor to resist such an attack. ”

“ If the person who is admitted to be the creditor's debtor stands, at the time of receiving the secustands, at the time of receiving the security, from whom he receives it, it is quite immaterial whether that person is or ever has been a debtor of the principal creditor, or whether the relation of suretyship or the indemnity to the surety existed, or was known to the creditor, when the debt was contracted. ”

“ A merchant in solvent circumstances may give his creditor a warrant to confess a judgment, which may be held by him, concealed from the knowledge of every other person; the debtor may continue his business for an indefinite time, buying other goods of the same creditor, paying for the new purchases, but paying nothing on the judgment debt, and when he becomes insolvent, judgment may be perfected on the warrant of attorney so given, execution issued, and the proceeds of the property sold paid to the judgment creditor in preference to and in exclusion, if need be, of all other creditors. ”

“ In England, where specialty creditors have a preference, a simplecontract creditor who recovers a fund for the general benefit is allowed his costs, as between party and party, out of the fund in preference to all other claims; and the balance of his costs, as between solicitor and client, are to be paid either out of the fund or pro rata by all the creditors who partake of the benefit of the suit. ”

“ Nor is the creditor of a bankrupt without remedy in such a case as the present. If he is aware of the existence of property or credits, which should rightfully go to the assignee for the benefit of the creditors, he should inform the assignee of all he knows on the subject, and request him to proceed, by suit if necessary, to recover it. If he declines, a petition to the court of original jurisdiction would, if a proper case was made, compel the assignee to proceed. ”

“ It is ruled, that indulgence granted by a creditor to the principal debtor will not discharge the surities of such debtor, unless the creditor shall have bound himself in law or in equity not to pursue his remedy against the principal for a definite length of time. ”

“ Legal substitution into the rights of a creditor, for the benefit of a third person, takes place only for his benefit who, being himself a creditor, satisfies the lien of a prior creditor, or for the benefit of a purchaser who extinguishes the incumbrances upon his estate, or of a coobligor or surety who discharges the debt, or of an heir who pays the debts of the succession. ”

“ The first is the insolvency of the debtor; the second is suffering or permitting a creditor to obtain a preference through legal proceedings; that is, to acquire a lien upon property of the debtor by means of a judgment, attachment, execution, or kindred proceeding, the enforcement of which will enable the creditor to collect a greater percentage of his claim than other creditors of the same class; and the third is the failure of the debtor to vacate or discharge the lien and resulting preference five days before a sale or final disposition of any property affected. ”

“ As we shall see, the creditor is not always entitled to sue one alone of the debtors; but when he has obtained judgment against all, he can always, by way of execution, obtain payment of the whole from any one. ”

“ To constitute payment, money or some other valuable thing must be delivered by the debtor to the creditor for the purpose of extinguishing the debt, and the creditor must receive it for the same purpose. ”

“ In the present case, a creditor, twenty-eight years after the death of his debtor, causes letters of administration of his estate to be taken out, proves his debt, or gets it contessed, and attempts to enforce his general lien as creditor on the debtor's land, after this lapse of time, against bona fide purchasers buying without notice of the claim. ”

“ Nor can we believe that an act intended for the benefit of the creditors generally, when the bank proves insolvent, can be justly construed in such a manner that any one creditor can appropriate the whole or any part of this liability of the trustees to his own benefit, to the possible exclusion of all or of any part of the other creditors. ”

“ Is about to remove his property, or a material part thereof, with the intent, or to the effect, of cheating or defrauding his creditors, or of hindering and delaying them in the collection of their debts, a creditor may bring an action on a claim before it is due, and have an attachment against the property of the debtor. ”

“ In pecuniary debts the creditor is obliged to accept of payment at the hand 79of any one, who at the request of the debtor is willing to discharge the debt which he has contracted, especially, if what he pays be his own; but in debts of service or punishment, when the surety offers himself to perform of suffer what was due from another, the creditor is at his liberty to accept of, or refuse satisfaction from him, but might insist on the payment of the debt by him in his own person, from whom it was due. ”

“ The posture of the case then was, that of a judgment creditor seeking to recover the proceeds of a sale of land sold under an adverse execution, out of the hands of the marshal; upon the ground of his having a mere general lien, by his judgment, on all the lands of his debtor; that judgment never having been consummated, by any levy on the land itself. ”

“ If a debtor simply acknowledges an old debt, the law implies from that simple acknowledgment a promise to pay it; for which promise the old debt is a sufficient consideration. But if the debtor promises to pay the old debt when he is able, or by installments, or in two years, or out of a particular fund, the creditor can claim nothing more than the promise gives him.' Philips v. ”

“ Where the creditor institutes proceedings for the recovery of his just debt in the State court, and obtains a judgment which is a lien upon the debtor's land, or takes out an execution, which is a lien upon his personal property, the debtor cannot divest such lien by afterwards applying for the Bankrupt law.
3. The acceptance of a warrant of attorney to confess judgment by a creditor from a debtor known to be insolvent is not in itself a fraud upon other creditors ”

“ But, unless the creditor takes by virtue of a disposition by the insolvent debtor of his property for the creditor's benefit, so that the estate of the debtor is thereby diminished, the creditor cannot be charged with receiving a preference by transfer. ”

“ If a man owes more than he, his family, and possessions are worth, or having sufficient, will not pay, the creditor informs the court, which enforces the claim by putting the debtor in chains until the debt and court fees are paid. ”

“ otherwise they would have known that it is to the property of the citizen, and not to the demands of the creditor of the state, that the first and original faith of civil society is pledged. The claim of the citizen is prior in time, paramount in title, superior in equity. The fortunes of individuals, whether possessed by acquisition, or by descent, or in virtue of a participation in the goods of some community, were no part of the creditor's security, expressed or implied. They never so much as entered into his head, when he made his bargain. ”

“ If a creditor gives public notice to his debtors that he will accept, in payment of his debts, wheat, tobacco, or Arkansas notes, and his debtor for a course of seven years refuses or neglects to accept of the offer, and tender payment in such articles, and is afterwards sued upon his bond or note ”

“ Ct. 269, that a creditor, who is a citizen and resident of the same state as his debtor, against whom insolvent proceedings have been instituted in such state, is bound by the assignment of the debtor's property in such proceedings, and if he attempts to seize or attach the personal property of the debtor situated in another state, and embraced in the assignment, he may be restrained by injunction by the courts of the state in which he and the debtor reside. ”

“ It is also argued, that inasmuch as to lay by and permit one creditor to obtain judgment and levy on property necessarily gives that creditor a preference, the debtor must be supposed to intend that which he knows will follow.
The general legal proposition is true, that where a person does a positive act, the consequences of which he knows beforehand, that he must be held to intend those consequences. ”

“ Should payment not then be made, the debtor, if a single man, is taken into the creditor's house; he becomes one of his followers, and is bound to execute any order or do any work the Rajah as creditor may demand, until the debt is paid, however long a time that may be. ”

“ To refuse to apply the attachment to such a case, is to withdraw from its reach half the cases it was provided to remedy, forcing the judgment creditor back into a suit in equity; e. g. all cases where a credit or chose in action of a judgment debtor is in the hands of any one, except the person ultimately liable to pay the money. ”

“ Your privilege ought not to be used to defraud the other creditors. But in any case, you will be allowed to take your share of the proceeds with the other creditors, and your father-in-law likewise, as a privileged creditor, for arrears of rent. When the court has given the order, other points may be raised as to the 'contribution,' as we call it, when a schedule of the debts is drawn up, and the creditors are paid a dividend in proportion to their claims. ”

“ App. 246, 157 S. W. 122.↑ 6097.-'Any creditor, without first having obtained a judgment at law, may file his bill in chancery for himself, or for himself and other creditors, to set aside fraudulent conveyances of property, or other devices resorted to for the purpose of hindering and delaying creditors, and subject the property, by sale or otherwise, to the satisfaction of the debt.' (1851-52, c. 365, § 10.) ”

“ Every debtor may pay his creditor with the notes of that creditor. They are an equitable and legal tender. So far as these notes were in possession of the debtor at the time he was summoned as garnishee, they form a counter claim, which diminishes the debt due to the bank to the extent of that counter claim. But the residue becomes a debt to the United States, for which judgment is to be rendered. ”

“ Every creditor of the bank, receiving its assets under such circumstances, knows the fact of liquidation, and is chargeable with knowledge of its consequences. He takes the assets received at his own peril. He is dealing with officers of the bank only for the purpose of winding up its affairs. If he accepts something in lieu of an existing obligation looking to future payment, it must be from other parties. ”

“ But any creditor may show, provided it be contradictorily with the mass of the creditors or their legal representatives, that any particular object or fund is not embraced in the surrendered estate, but is subject exclusively to his individual claim. ”

“ Carson, 11 Ill. 508: 'A debtor in failing circumstances has an undoubted right to prefer one creditor to another, and to provide for a preference by assigning his effects; but he is not permitted to say to any of his creditors that they shall not participate in his present estate unless they release all right to satisfy the residue of their debts out of his future acquisitions.' In Brashear v. ”

“ The creditor is a good deal like the sparrow on whose tail confiding children are invited to put salt,—with this difference, that he applies the image to his claim, the proceeds of which he is never able to lay hold of. ”

“ The pawn invests the creditor with the right of causing his debt to be satisfied by privilege, and in preference to the other creditors of his debtor, out of the product of the movable, corporeal or incorporeal, which has been thus burdened. ”

“ By the second section of this law it is declared, that a creditor, wishing to sue his debtor by attachment, shall file in the clerk's office of the Circuit Court a petition or other lawful statement, with an affidavit of his cause of action, and a bond, with a condition to the latter to prosecute his action with effect, and without delay, and to refund all sums of money that may be adjudged to the defendant, and to pay all damages that may accrue to any defendant or garnishee, by reason of the attachment, or any process or judgment thereon. ”

“ Any creditor is entitled to appear and to be heard, but a plan which is so authorized by the court is binding upon all creditors whether or not they appear, and the substitution of new obligations for old in carrying out the plan is made effective from the day fixed by judicial order. ”

“ The creditor will imprison the debtor with the hope that the debtor's relatives and friends will subscribe to save him and them from this disgrace. That is to say, the law allows a creditor to put improper pressure on totally innocent people in order to get his claims satisfied. ”

“ Sums due by way of interest shall be treated as debts admitted by the Clearing Offices and shall be credited to the Creditor Clearing Office in the same way as such debts.
23. Where by a decision of the Clearing Offices or the Mixed Arbitral Tribunal a claim is held not to fall within Article 176, the creditor shall be at liberty to prosecute the claim before the Courts or to take such other proceedings as may be open to him. ”

“ On the other hand, a creditor of the same debtor, the debt to whom matures at the same time as that owing the other creditor, and is secured by collaterals also due contemporaneously, has the collaterals protested for nonpayment, and when the debtor fails the collaterals have not been realized. ”