[DOWNLOAD] "Toof Et Al. v. Martin" by United States Supreme Court # Book PDF Kindle ePub Free

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eBook details

• Title: Toof Et Al. v. Martin
• Author : United States Supreme Court
• Release Date : January 01, 1871
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 57 KB

Description

Mr. A. H. Garland, for the plaintiffs in error: 1. Did the inability of Haines & Co. to pay their debts in money, as they fell due, constitute 'insolvency' within the meaning of the bankrupt act, on their part? Now 'insolvency' does not mean inability to pay in money. An insolvent is one who cannot pay, or who does not pay, his debts, or whose debts cannot be collected out of his means by legal process.1 By the universal acceptation of the word in this country and in England, if a party's available means, which he can use in paying his debts, exceed those debts, he has never been deemed insolvent.2 If even there are debts due which the party is unable to meet, yet if by arrangements made with his creditors, their promises to aid him, his assets overbalancing his debts, his credit good, and his prospects in business for the future encouraging, he still goes on in his business, he is not insolvent.3

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