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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 4, Page 19   View pdf image (33K)
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BROOKS VS. THOMAS AND JEROME. 10
was made, the party making it intended to take the benefit of
the insolvent laws. Both intents must be found to exist, or
the transfer will not be disturbed. The cases decided upon the
Acts of 1812, ch. 77, and 1816, ch. 221, all concur in this,
and the question, therefore, in this case is, whether at the time
the transfer was made to Jerome, Thomas, the insolvent, in-
tended not only to prefer him over his other creditors, but to
apply for the benefit of the insolvent laws ?
The bill charges both intents, and the answer of Thomas, in
the most direct and unequivocal terms, denies the allegation
that he made the transfer and payment to Jerome with a view
and under an expectation of being and becoming an insolvent
debtor. This denial is repeated more than once, and is couched
in terms as express as our language will afford. Are the facts
and circumstances of the case powerful enough to overthrow
it ? If they are, the answer must give way to them, though
the alternative is the conclusion that the respondent has de-
liberately denied on oath a statement which he knew to be
true.
It is not enough to say that Thomas, the insolvent, at the
time ho made the transfer, could have had no reasonable ex-
pectation of being exempted from liability or execution for or
on account of his debts, and without applying for the benefit
of the insolvent laws. The absence of grounds for such rea-
sonable expectation might bring the case within the 1st section
of the Act of 1834, ch. 293, and vacate a preference made to
a creditor having notice of the insolvent condition of the debtor.
We have nothing to do, so far as this part of the case is con-
cerned, with the reasonableness or unreasonableness of the
expectation of the debtor. His expectation that his creditors
would forbear with him, may be wholly absurd. The circum-
stances may be such that most men would look to a resort to
the insolvent laws for relief, as the only probable alternative
left them. But, nevertheless, if the insolvent himself making
the transfer, did not make it with intent to take the benefit of
the insolvent laws, and also to give an undue and improper
preference to the favored creditor, the transfer will stand,

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Reports of Cases in the High Court of Chancery of Maryland 1846-1854
Volume 200, Volume 4, Page 19   View pdf image (33K)
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