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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 2, Page 122   View pdf image (33K)
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122 HIGH COURT OF CHANCERY.
tation of being and becoming an insolvent debtor, and with
intent thereby to give to said Dilley an undue and improper
preference; and for the purpose of hindering and defrauding
the complainants and other creditors of said Edwards and Dilley
of their just and lawful actions," &c.
This bill, then, prays that Dilley may be removed from the
office of trustee, and that a receiver be appointed to take pos-
session of the proceeds of the policy of insurance and other
property, and that the transfers to Dilley may be declared void.
The answers deny the allegations of fraud, and that of Ed-
wards expressly denies, that at the time he made the assign-
ment of the policy to Joseph Dilley, he had it in contemplation
to take the benefit of the insolvent laws. The ground taken
in the answer is, that the policy was assigned to Dilley at his
urgent request, with no view whatever of becoming an appli-
cant for the benefit of the insolvent laws, or of giving an undue
and improper preference to Dilley. The answers also set out an
original agreement to secure Dilley, who had become the sure-
ty of the firm in the purchase of their original stock of goods,
and that the transfer of the policy was made in fulfilment of
that agreement; and that of Edwards says, he not only made the
assignment, because he believed it right and honest to do so,
but because he then believed he could continue his business
and meet his other engagements.
The proceedings show that the store of Edwards and Dilley
was destroyed by fire, in March, 1845, and that their entire
Stock of goods was consumed, except about five hundred dol-
lars worth; and it appears that this loss and the loss of one of
their books of accounts, had rendered Edwards insolvent; Dil-
ley, the other partner, having retired, and having, as already
mentioned, defeated the suits of the creditors of the firm by re-
lying on his minority.
The controversy, now, has reference alone to the validity of
the assignment by Edwards to Joseph Dilley, of the policy of
insurance; and it is in proof and not denied, that be, Joseph
Dilley, had paid and was liable to pay, and has since paid, as
surety, for Edwards and Dilley, a sum exceeding the sum due

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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 2, Page 122   View pdf image (33K)
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