In re Assignment of Citizens' Stock Bank
In re Assignment of Citizens' Stock Bank
Opinion of the Court
On the first day of the February term, 1899, of the Saline Circuit Court, Com. P. Starts, assignee of the above named estate, made a report to the court of the sale of certain uncollected motes, judgments, etc., among which was a judgment in favor of the estate’ and against Starts Bros, and Joseph Field, -deceased, in the sum of $12,571.19 and interest. The -assignee reported that he had sold said judgment, subject to the court’s approval, to David A. Hancock for the sum of $100.
Three weeks thereafter, but during the same February term, the Boatmen’s Bank, a creditor of the assigned estate, filed objections to the sale of the judgment to Hancock. At a subsequent hearing by the court the exceptions of the Boatmen’s Bank were sustained as to the sale of said judgment, and from order setting the sale aside, Hancock, the purchaser, h-as appealed.
The first contention is that in this case the court had no jurisdiction to entertain the objections filed by the Boatmen’s Bank because they were not filed within the three days provided in the statute. We think there is no merit in this contention. Even if it be conceded that the Boatmen’s Bank was out of time with its exceptions, and for that reason had no right to be heard; and that because of the delay in filing its objections it could not complain if the court had stricken out the same, yet it remained the duty of the court — even in the absence of objections by a' creditor of the assigned estate — to investigate the sale and approve or reject the same as to it seemed proper. And until the report was acted upon by the court the sale was imperfect and incomplete, since the statute says, that “nothing in this section authorized to be done by the assignee shall be final until the approval of the court.” The. court then had jurisdiction of the report; it was in duty bound to supervise the action of the assignee, and this too regardless of the presence or absence of objections by creditors. The matter of such sale remained in abeyance until acted upon by the court.
There is no merit in the appeal and the judgment will be affirmed.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.