Sanger
Sanger v. Ryan
Opinion
Lead Opinion
Chipman, J.
Action to have plaintiff declared to he entitled, as assignee in insolvency, to certain shares of defendant corporation. The court found that J. B. Myer & Co. were declared insolvents August 7, 1896, and plaintiff is the duly elected assignee of said insolvents; the shares in question (of which there are one hundred) were of the value of one hundred dollars each and had been assigned by Myer & Co., owners, on August 3, 1896, to defendant Ryan, within thirty days prior to insolvency proceedings; the assignment was without consideration, s,nd not in the usual course of business, hut Ryan then had no knowledge of Myer & Co.’s insolvency; he had no beneficial interest in the stock or its dividends; the court further found *53 ■that “under the circumstances in which said stock was intrusted to the defendant Ryan, he had doubt whether it was partnership' property of the said firm or the individual property of said Myer and Merrill, each being the owner of fifty shares,” and that “An individual creditor of said Merrill, in an action against him, attached, or attempted to attach, fifty shares of said stock ■as the property of said Merrill, and said Ryan has in good faith made defense…