Bill in Equity, by the assignee of Ballou & Page, to set aside •deeds purporting to convey a homestead from Ballou to the ■defendant, his wife, through a third person. Facts found by the court. The deeds were without consideration, and were executed and delivered to the defendant on July 29, 1895, at which time Ballou’s assets and the assets of the firm, aside from the homestead, were of a value barely equal to the amount of his and the firm’s indebtedness.
Cited by 2 later decisions — most recently April 1964
¶1
The law respecting insolvent debtors provides that all . . . sales and transfers, whenever made, if fraudulent as to •creditors, shall be void; and the assignee may recover . . . any property so . . . sold or transferred.” P. S.,
c.
201,
s.
26. The phrase, “ if fraudulent as to creditors,” has been construed to mean such sales or transfers as are frauds in fact, but not constructive frauds, or frauds by intendment of law. “ Gifts or ■conveyances without valuable consideration are not mere constructive frauds, or frauds by intendment of law. They are, as against creditors, fraudulent in fact.”
Thompson
v.
Esty, ante,p.
55. See, also,
Coleman
v.
Burr,
93 N. Y. 17, 31;
Roberts
v.
Victor,
130 N. Y. 585, 600;
Smith
v.
Reid,
134 N. Y. 568, 575.
¶2*415
The conveyance which Ballou made to his wife was without valuable consideration, was made at a time when “ his assets ” and
“
the assets of the firm ” remaining after the conveyance “ were of a value barely equal to the amount of his and the firm’s indebtedness”
(Gove
v.
Campbell,
62 N. H. 401, 403), and was “ fraudulent in fact ” as against his creditors.
Thompson
v.
Esty, supra.
