Gramatan National Bank & Trust Co. v. Smith

Appellate Division of the Supreme Court of New York

Gramatan National Bank & Trust Co. v. Smith

249 A.D. 748, 292 N.Y.S. 978, 1936 N.Y. App. Div. LEXIS 5856

CourtAppellate Division of the Supreme Court of the State of New York

DecidedDecember 15, 1936

StatusPublished

This text of 249 A.D. 748 (Gramatan National Bank & Trust Co. v. Smith) is published on Counsel Stack Legal Research, covering Appellate Division of the Supreme Court of the State of New York primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Gramatan National Bank & Trust Co. v. Smith, 249 A.D. 748, 292 N.Y.S. 978, 1936 N.Y. App. Div. LEXIS 5856 (N.Y. Ct. App. 1936).

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Opinion

Action by a judgment creditor to set aside an assignment of mortgage by the Pondfield Realty Corporation to the defendant Florence M. Smith on the ground that such assignment was made with intent to hinder, delay and defraud creditors. Judgment for the plaintiff reversed on the law and the facts, with costs, and the complaint dismissed, with costs. The court found that on July 14, 1931, the date the mortgage was assigned, defendant John W. Smith was insolvent;, and that assignment of said mortgage rendered him insolvent. The facts show that there was no bad faith in the transactions of July 14, 1931. The findings of bad faith and that the defendant John W. Smith was insolvent on that day, and that he was rendered insolvent by the assignment, are contrary to the .credible evidence in the case. Findings of fact inconsistent herewith are reversed; [749]*749conclusions of law inconsistent herewith are disapproved. New findings and conclusions will be made. Lazansky, P. J., Johnston and Adel. JJ., concur; Young and Taylor, JJ., dissent and vote to affirm. Settle order on notice.

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Action by a judgment creditor to set aside an assignment of mortgage by the Pondfield Realty Corporation to the defendant Florence M. Smith on the ground that such assignment was made with intent to hinder, delay and defraud creditors. Judgment for the plaintiff reversed on the law and the facts, with costs, and the complaint dismissed, with costs. The court found that on July 14, 1931, the date the mortgage was assigned, defendant John W. Smith was insolvent;, and that assignment of said mortgage rendered him insolvent. The facts show that there was no bad faith in the transactions of July 14, 1931. The findings of bad faith and that the defendant John W. Smith was insolvent on that day, and that he was rendered insolvent by the assignment, are contrary to the .credible evidence in the case. Findings of fact inconsistent herewith are reversed; [749]*749conclusions of law inconsistent herewith are disapproved. New findings and conclusions will be made. Lazansky, P. J., Johnston and Adel. JJ., concur; Young and Taylor, JJ., dissent and vote to affirm. Settle order on notice.

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Bluebook (online)

249 A.D. 748, 292 N.Y.S. 978, 1936 N.Y. App. Div. LEXIS 5856, Counsel Stack Legal Research, https://law.counselstack.com/opinion/gramatan-national-bank-trust-co-v-smith-nyappdiv-1936.