Benedict v. Ratner :: 268 U.S. 353 (1925) :: Justia U.S.

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Benedict v. Ratner :: 268 U.S. 353 (1925) :: Justia U.S. Supreme Court Center

https://supreme.justia.com/cases/federal/us/268/353/

Justia U.S. Law U.S. Case Law U.S. Supreme Court Volume 268 Benedict v. Ratner Syllabus

Benedict v. Ratner
268 U.S. 353 (1925)

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Benedict v. Ratner, 268 U.S. 353 (1925)

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Benedict v. Ratner
No. 11
Argued October 5, 1923
Decided May 25, 1925
268 U.S. 353

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Syllabus
1. By the law of New York, a transfer of property, as security for a debt,
which reserves to the transferor the right to dispose of the property or to

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apply its proceeds for his own uses is fraudulent and void as to creditors. P.
268 U. S. 360.
2. This rule applies to the assignment of present and future book accounts
as well as to assignment of chattels, since it does not result from the
retention of ostensible ownership by the assignor, but from the fact that the
reservation of dominion by him is inconsistent with the effective disposition
of title and creation of a lien. P. 268 U. S. 361.
3. Held that an assignment made by a mercantile corporation, more than
four months before it was adjudged bankrupt, of its present and future
accounts receivable as security for a loan was void under the above rule, so
that delivery of a list of accounts, and payments made within the four
months, were inoperative to perfect a

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Benedict v. Ratner :: 268 U.S. 353 (1925) :: Justia U.S. Supreme Court Center

https://supreme.justia.com/cases/federal/us/268/353/

Page 268 U. S. 354

lien in the assignee, but were unlawful preferences, under the Bankruptcy
Act. P. 268 U. S. 364.
282 F. 12 reversed.
Certiorari to a judgment of the circuit court of appeals which affirmed an
order of the district court requiring a receiver and trustee in bankruptcy to
pay over money collected from accounts receivable to a creditor of the
bankrupt claiming them as security under an assignment, and denying the
trustee's petition that the creditor be required to pay over collections made

Steven Merle Chanley

Employment Law, Intellectual Prop
San Luis Obispo, CA
Reed H Olmstead
Bankruptcy
Grover Beach, CA
David Paul Warren
Employment Law
Pismo Beach, CA
Jason E Marchese
Bankruptcy
San Luis Obispo, CA

by him under the assignment.

Page 268 U. S. 357

John Edwin Hinden

Bankruptcy, Divorce, Domestic Vio
Santa Maria, CA

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