First National Bank v. Newman

Supreme Court of New Hampshire

First National Bank v. Newman

62 N.H. 410

DecidedDecember 5, 1882

StatusPublished

This text of 62 N.H. 410 (First National Bank v. Newman) is published on Counsel Stack Legal Research, covering Supreme Court of New Hampshire primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

First National Bank v. Newman, 62 N.H. 410 (N.H. 1882).

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Opinion

Clark, J.

Chapter 140, Gen. Laws, is not a bankrupt law. It was designed to secure an equal distribution of the debtor’s estate among the creditors assenting to the assignment, but it contains no provision for the discharge of the debtor except upon payment of his debts in full. It operates only upon the estate of the debtor within the state, and does not secure a discharge from his debts beyond the payments made. In Hurd v. Silsby, 10 N. H. 108, it was held, under the statute of July 5, 1834, which was similar to the present statute, that a condition in the assignment, that the creditors should accept their several proportions in full discharge of their claims, rendered the assignment invalid.

Exceptions overruled.

Stanley, J., did not sit: the others concurred.

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Clark, J.

Chapter 140, Gen. Laws, is not a bankrupt law. It was designed to secure an equal distribution of the debtor’s estate among the creditors assenting to the assignment, but it contains no provision for the discharge of the debtor except upon payment of his debts in full. It operates only upon the estate of the debtor within the state, and does not secure a discharge from his debts beyond the payments made. In Hurd v. Silsby, 10 N. H. 108, it was held, under the statute of July 5, 1834, which was similar to the present statute, that a condition in the assignment, that the creditors should accept their several proportions in full discharge of their claims, rendered the assignment invalid.

Exceptions overruled.

Stanley, J., did not sit: the others concurred.

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Bluebook (online)

62 N.H. 410, Counsel Stack Legal Research, https://law.counselstack.com/opinion/first-national-bank-v-newman-nh-1882.