Bankruptcy. Property Passing to Trustee. Voluntary Proceedings Instituted Immediately Prior to an Expected Inheritance

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  • Bankruptcy. Property Passing to Trustee. Voluntary Proceedings Instituted Immediately Priorto an Expected InheritanceSource: Harvard Law Review, Vol. 33, No. 5 (Mar., 1920), p. 725Published by: The Harvard Law Review AssociationStable URL: http://www.jstor.org/stable/1327225 .Accessed: 23/05/2014 19:19

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  • RECENT CASES 725

    AGENCY - PRINCIPAL'S LIABILITY TO THIRD PERSONS IN TORT - WHO IS LIABLE FOR NEGLIGENCE OF DRIVER OF HIRED MOTOR VEHICLE. - The de- fendant hired an automobile and a chauffeur from A for three months. While driving the defendant, the chauffeur negligently ran over plaintiff's intestate. Held, that the defendant is not liable. McNamara v. Leipzig, I25 N. E. 244 (N. Y.).

    The defendant hired an auto-truck and a chauffeur from A for use in his business. The chauffeur, while engaged in delivery work for the defendant, negligently injured the plaintiff. Held, that the defendant is liable. Finegan v. Piercy Contracting Co., 178 N. Y. SuPP. 785 (App. Div.).

    For a discussion of these cases, see NOTES, P. 7I4, supra.

    BANKRUPTCY - PROPERTY PASSING TO TRUSTEE - LEASEHOLD INTERESTS - LANDLORD'S RIGHT OF ENTRY. - The landlord, under a lease providing for a right of entry for condition broken, becomes entitled to enter for failure to pay rent and royalties. The tenant becomes bankrupt, and the landlord then seeks to enter against the bankrupt's trustee, in possession. Held, that he may do so. Matter of Elk Brook Coal Co., 44 Am. B. R. 283 (Dist. Ct. Pa., i9'9).

    For a discussion of this case, see NOTES, P. 709, supra.

    BANKRUPTCY - PROPERTY PASSING TO TRUSTEE - VOLUNTARY PRO- CEEDINGS INSTITUTED IMMEDIATELY PRIOR TO AN EXPECTED INHERITANCE. - An insolvent debtor filed a voluntary petition in bankruptcy knowing that his mother, who had made a will in his favor, could live only a few days. A creditor moved to set aside the adjudication on the ground that this was fraudulent. Held, that the motion be denied. Matter of Swift, 44 Am. B. R. 2II (Dist. Ct. N.' D. Ga.).

    It was one of the prime purposes of the Bankruptcy Act to enable an honest insolvent debtor to be discharged from creditors' claims against him upon giving up all his non-exempt property. And the Act does not restrict the filing of petitions to cases where the debtor has no hope of ever being solvent again. If the court has jurisdiction, no creditor has any standing to object to a voluntary petition by a natural person. In re Carlton, I15 Fed. 246; In re Ives, 113 Fed. 9ii. If any injustice is done in the principal case, it seems to flow from the fact that the creditor derives no benefit from the debtor's spes successionis which had become almost a certainty at the time of the petition. This result, however, follows from the doctrine that a spes, be it ever so cer- tain of fulfillment, is not property, and hence that it does not pass to the trustee in bankruptcy. Moth v. Frome, I Amb. 394. But this doctrine of the nature of a spes is not confined to courts of bankruptcy. Thus an expectancy is not property which can be the subject of a trust, or which can be reached by a creditor's bill. In re Ellenborough, [1903] I Ch. 697; Smith v. Kearney, 2 Barb. Ch. 533. Perhaps the fact that no previous decision seems to have raised the point involved in the principal case shows that it is not one of such grave practical importance as to demand the immediate change of our bank- ruptcy law. As the law stands, the decision seems unassailable.

    BANKS AND BANKING - NATIONAL BANK Acr - USURY - CONSTRUC- TION OF NATIONAL BANK ACT AUTHORIZING INTEREST AT RATE ALLOWED BY LAWS OF THE STATE. - The defendant national bank discounted the plaintiff's short-time note at eight per cent, taking interest in advance. The National Bank Act provides that national banks may charge interest, "at the rate al- lowed by the laws of the state where the bank is located," and declares that knowingly charging a greater rate is usury. (REV. STAT., ?? 5197, 5198.) Eight per cent was the maximum interest rate allowed by statute in Georgia, where the defendant bank was located (i9io, GA. CODE, ?? 3426, 3436); but

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    Article Contentsp. 725

    Issue Table of ContentsHarvard Law Review, Vol. 33, No. 5 (Mar., 1920), pp. 633-746The Proximate Consequences of an Act [pp. 633-658]Amending the Constitution of the United States: A Reply to Mr. Marbury [pp. 659-666]Liability for Substantial Physical Damage to Land by Blasting: The Rule of the Future. II [pp. 667-687]The Progress of the Law, 1918-1919: Trusts [pp. 688-705]NotesMarine Risk and War Risk [pp. 706-709]The Effect of Bankruptcy on a Right of Entry for Condition Broken [pp. 709-711]Restrictive Interpretation [pp. 711-713]Compensation for Property Taken for the Defense of the Realm [pp. 713-714]Hired Motor Vehicles and Respondeat Superior [pp. 714-717]The Application of Bulk Sales Statutes [pp. 717-718]Powers of National Banks to Acquire Various Kinds of Property [pp. 718-721]Privilege of Non-Residents Engaged in Public Duty from Service of Process [pp. 721-724]

    Recent CasesAdoption. Wills. Partial Revocation of a Will by Adoption of a Child [p. 724]Agency. Principal's Liability to Third Persons in Tort. Who Is Liable for Negligence of Driver of Hired Motor Vehicle [p. 725]Bankruptcy. Property Passing to Trustee. Voluntary Proceedings Instituted Immediately Prior to an Expected Inheritance [p. 725]Banks and Banking. National Bank Act. Usury. Construction of National Bank Act Authorizing Interest at Rate Allowed by Laws of the State [pp. 725-726]Banks and Banking. National Banks. Power of National Bank to Acquire and Operate a Street Railway [p. 726]Conflict of Laws. Capacity. Note Made by Married Woman in One State Payable in Another [pp. 726-727]Constitutional Law. Conflict of Laws. Statute Taking Away Right of Action Arising in Another State for Death by Wrongful Act [p. 727]Damages. Mitigation of Damages. Effect of Violation of a Contract Duty Owed to a Third Person [p. 728]Divorce. Custody and Support of Children. What Law Creates and Enforces Obligation of a Divorced Father to Support Children [p. 728]Divorce. Judicial Separation. Petitioner's Adultery as Defense. Effect of Respondent's Connivance [p. 729]Equity. Jurisdiction. Right of a Minor Child to Maintenance by Father [pp. 729-730]Equity. Procedure. Crossbill in Equity Adding New Parties [p. 730]Foreign Corporations. Validity of Service on Agent for Foreign Cause of Action after Withdrawal from State [pp. 730-731]Garnishment. Garnishee's Right to Set off Claims against the Principal Debtor Acquired after Service of the Writ [pp. 731-732]Insurance. Marine Insurance. Apportionment between War Risk and Marine Risk [p. 732]Insurance. Marine Insurance. Recovery Denied for Partial Loss When Followed by Total Loss from an Excepted Peril [pp. 732-733]Insurance. Mutual Benefit Insurance. Right of Beneficiary to Reinstate Suspended Policy after Death of Insured [p. 733]Landlord and Tenant. Tenancies at Will and at Sufferance. Landlord's Liability for Forcible Eviction [pp. 733-734]Recording and Registry Laws. Notice. Effect of Fraudulent Cancellation of Records [pp. 734-735]Right of Privacy. Statutory Interpretation. Use of Picture in News Film and Posters [p. 735]Statute of Frauds. Interests in Lands. Oral Contract to Procure Mortgagee of Land [pp. 735-736]Statute of Frauds. Sale of Goods. Effect of Part Payment on a Single Contract to Sell Land and Personalty [p. 736]Taxation. General Limitation on the Taxing Power. Validity of Tax on Net Income of Foreign Corporation Engaged in Interstate Commerce [pp. 736-737]Taxation. License Tax. Constitutionality of Motor Vehicle Tax Graduated According to Carrying Capacity [p. 737]Trusts. Limitation of Actions. Effect of Delay by Substituted Trustee upon Rights of Infant Cestui Que Trust [p. 738]War. Prize. Claim for Freight and Demurrage by Neutral Shipowners against Enemy Cargo [pp. 738-739]Wills. Construction. Gift to a Class. Devise of Remainder to Testator's Living Children [p. 739]

    Book ReviewsReview: untitled [pp. 739-742]Review: untitled [pp. 742-743]Review: untitled [p. 744]Review: untitled [p. 745]Review: untitled [pp. 745-746]

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