[DOWNLOAD] "Collector Taxes Lowell v. Sylvia Slafsky" by Supreme Judicial Court of Massachusetts * eBook PDF Kindle ePub Free

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eBook details

• Title: Collector Taxes Lowell v. Sylvia Slafsky
• Author : Supreme Judicial Court of Massachusetts
• Release Date : January 13, 1955
• Genre: Law,Books,Professional & Technical,
• Pages : * pages
• Size : 69 KB

Description

Neither a city which assessed personal property and excise taxes upon one who subsequently made a general assignment for the benefit of creditors, nor its collector of taxes, was by virtue of the assessments a ""creditor"" of the assignor within a provision in the assignment designating as parties thereto ""creditors"" of the assignor who should assent in writing to its terms. [702] Provisions in a general assignment in trust for the benefit of assenting creditors of the assignor, described as parties of the third part, that the assignee should distribute the net proceeds of the trust property ""in substantial conformity with the laws of . . . Commonwealth relating to the estates of insolvent debtors, paying debts"" of the assignor ""due and owing to the parties of the third part entitled to priority under said laws . . . in the order provided for by"" such laws, meant that taxes assessed to the assignor should be paid as a preferred claim and, after payment of taxes, debts should be paid to ""parties of the third part"" in the order of priority set forth in G. L. (Ter. Ed.) c. 216, § 118; and entitled the collector of taxes of a city as a beneficiary of the trust, although not a creditor or a party ""of the third part,"" to enforce by suit in equity payment of such taxes by the assignee as a preferred claim. [702-704]

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