Hunt and Another, Assignees of W. D. and T. Gilbert, Bankrupts, against Mortimer and Others
| Jurisdiction | England & Wales |
| Judgment Date | 13 November 1829 |
| Date | 13 November 1829 |
| Court | Court of the King's Bench |
English Reports Citation: 109 E.R. 367
IN THE COURT OF KING'S BENCH.
S. C. 5 Man. & Ry. 12. Referred to, Ex parte Craven, 1870, L. R. 10 Eq. 654; L. R. 6 Ch. 70.
[44] hunt and another, Assignees of W. D. and T. Gilbert, Bankrupts, mortimer and others. Friday, November 13th, 1829. Where a trader, having a large order from the East India Company, and not having funds to execute it, borrowed money of B., upon an agreement that B. should receive the money for the order from the East India Company and repay himself; and at the time of the loan B. knew the trader to be insolvent, and before the money became due from the East India Company the trader was arrested several times, and was bailed by B., and so avoided committing an act of bankruptcy until after the money became due, when B. received it: Held, that this was not a fraudulent preference. [S. C. 5 Man. & By. 12. Referred to, Exparte Craven, 1870, L. E. 10 Eq. 654; L. R. 6 Ch. 70.] Assumpsit for money had and received to the use of. the plaintiffs as assignees. Plea, the general issue, and notice of set-off. At the trial before Lord Tenterden C.J 368 HUNT V. MOETIMEK 10B.&C.45. at the London sittings after last Trinity term, it appeared that the bankrupts had for many years carried on business in London as mathematical instrument makers, and in the way of their business received large orders from the Bast India Company. The defendants had for some time been in the habit of lending money to the bankrupts to assist them in executing such orders, and were repaid out of the monies received from the East India Company, who paid by bills at six months from the time of the orders being executed. In May 1827 the bankrupts had an order from the East India Company, and being in want of funds to complete it, applied to the defendants, who knew them to be in considerable difficulties, but advanced some part of it and prevailed upon two friends to advance 5001. each, upon condition that they (the defendants) should receive from the Company the money which would afterwards be due to the bankrupts, and repay themselves and their friends those advances. The order was executed, and the money became due from the Company the 29th of .November 1827, when it was received by the defendants, and by them applied in the manner agreed upon. Before that time the bankrupts had been arrested several times, and were bailed by the defendants...
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