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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 4, Page 16   View pdf image (33K)
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16 HIGH COURT OF CHANCERY.
into the concern about $600 worth of groceries, which had
been purchased on credit from the defendant, Jerome, who
charged them to the firm. Thomas continued to carry on the
business by himself until some time in September or early in
October, 1848, when he failed, being at the time utterly in-
solvent. Very soon after this, that is to say, on or about the
7th of October of that year, Thomas proposed to a portion or
all of his creditors, to make a general assignment for their
common and equal benefit, of all his assets, provided they
would release him from responsibility. This the defendant,
Jerome, agreed to do, but some or all the other creditors refusing,
the assignment was not made, and the arrangement abandoned.
Mr. Jerome, in his answer, states that the proposition by
Thomas to him was made about September, 1848, he being at
that time a creditor to the amount of $2,130, but the proof of
Randall shows that the proposition to Bansemer, a creditor,
was made about the 7th of October, 1848. Upon the aban-
donment of this proposition, and in a few days after the last-
mentioned date, Thomas made sale of his entire stock of goods,
and having paid a note for $187 25, which was endorsed by
Jerome, and discounted at the Western Bank of Baltimore, he
paid over to Jerome the whole residue of the proceeds of the
sales, amounting, with other moneys, to $990 in cash, and
transferred to him notes and furniture (the latter worth about
$75) amounting to $1,010. I am quite satisfied, from the
proof that the money, moneyed securities, and property paid,
assigned, and delivered by Thomas to Jerome, constituted,
with a very inconsiderable exception, everything he possessed.
In fact, it may perhaps be safely stated, that he reserved
nothing which, under our insolvent laws, he could be required
to surrender for the benefit of his creditors, and, in fact, when
he petitioned on the 5th of February, 1849, he returned no
assets of any description whatever.
The bill assails the preference given to Mr. Jerome upon
two grounds: 1st, that it was given with a view and under an
expectation on the part of Thomas, of taking the benefit of
the insolvent laws, and with intent thereby to give an undue

 
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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 4, Page 16   View pdf image (33K)
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