In re W. H. Blumer & Co.
In re W. H. Blumer & Co.
Opinion of the Court
When the exception filed by Mrs. Line was first heard, her counsel relied so confidently on the position that the bank stock (if accepted by her,) must be regarded as collateral security for her debt simply, leaving the original obligation or liability of her husband unaffected that the question of acceptance was scarcely referred to. This view seemed, virtually, to be acquiesced in by counsel on the other side. Eby v. Hoopes, 38 Leg. Int. 317, just published, was supposed to govern the case. On inquiry by the court whether the principle there involved was applicable to transfers, (by debtor to creditor,) of tangible property, such as horses, merchandise, bank stock, and the like, or only to transfers of bills, notes, bonds, and other similar promises and obligations to pay money, the case was again heard, and on this second hearing counsel for the exceptor contended, that there is no sufficient evidence of acceptance.
A careful examination of the case has satisfied me that this latter position is well taken. I have looked through the testimony in vain for any satisfactory evidence of such acceptance. Mr. Line testifies in substance that he did not inform her of the transfer until after the bank’s failure, and that she then declined to accept. The register says, “That she must have know nearlier of the transfer, and con
This view of the facts renders a decision of the legal question unimportant. It may not, however, be improper to say, that if the case turned upon a solution of this question, Mrs. Line would be in great danger of having to account for the stock.
Reference
- Full Case Name
- In re W. H. Blumer & Co., Bankrupts
- Status
- Published