Nashville union and American. [volume] (Nashville, Tenn.) 1853-1862, 1859-05-22
OFFICIAL.
Opinions of the Supreme Court of tho State
of Tennessee, delivered at Nashville, at
December Term, 1855.


Thos J. ROans and ether. The Bank of Nashville and
others
Six bills filed by the creditors Of Samuel G. Hays
Nashville others mpeach for
t Of the value OF about sGJOO as alleged % Edmund Coo.
per the debts specified sid deeds These
dismissed BY the Chancellor and the deeds Of trust hsld to be
The t eI was made On the sh August 1856 and the ore
which the main assault made The grounds Of attack
!. That the debt which it made to the Bank Of
Nashville largely tainted with usuy. Il amounted to
O, that together with debt Of sJn00 Cooper
and Cummings and 80 to Backno e. we're Febts sell Ell
~ upon aud largely
aggregate But tie nputatioa against the Bank debt is
had AGAINST SMITH Doa Cummings Biackmore, for
$1,000 B.acaGrs and Cummnss en1orsers, and hat
te bto he released from liability. On solGe ground assumed
by them As perhaps on acoant Of tune give. 70 me
bis transactions with Smith land, in which
liable Sc co. Smith and DoaE
insoyeHt, but Cummings and Smith not considered.
In this state OF thngs Hays aVg large property, though
much involved entered with the Bank and
with Cummings BacAmore ami Cooper that II the Bank would
loan nm S''OO On long ts anu ne Others So-J ne Noull
the sail de0t OF $50, and the whole by
yancei. the judgment transferred, and the deed Of
This, il insisted, the extent Of Si3O9
could only regarded given for the loan Of $4,000
S2O0J advanced to HIM If that the judgment
insisted upon would arise and be difficult to meet But such
the Hays alleged to be liable for $1,000 Of IT, and
the endoser not nsovsnt and perhaps would have been
unable to resist she liability, night be inferred from the fact
that they entered into the arrangement by which they had
large money accomplish the adj ustment by
Hays bound the the Bank. There
no serious doubt but that this was fair reasonable and bone fe
all The Bank willing enlarge debt
from S3OtO $50 COO, and extend the time to Eve the
regular payment get of further
litigation, aud Hays willing take assignment
judgment thirds Of which he attempted he made
liable and perhaps expected it all from the principals
endorers, given him would epse in
meantime get the s2OOO cash aid him in the struggle
to save his property sgnst the Urge amount OF judgments
then obtained him. which it from after deye
opmen the most not all this applied and proved
insufficient to relieve it, He doubessy hattered himself most
sinking do, ta BY obtaining tine and efficient present
help he could certainly be able to excate himself from the ruin
with which he threatened by impending difficulties.
This doubtless his calculation, and the operating in
uucslnel % I'he We pTopos POSITION, 70 Gnl s Danh' anu w
others accee and which resulted IN the arrangement in ques
ton No extra interest demanded given Under these
the assignment Of the S30O judgment
regarded as an attempt TO eYle te usy laws cut purchase
assignment fair and legal transaction upon motives and
Considerations satisfactory both Sides and to vi h there
ne no legal objections was ho case oil ncuouS nor OF
worthless paper, argue by compliments counsel.
The Of objection that the Of property
was dpropotonate e the debt secured AMI the
time Of credit great to raise presumption OF aud
1t true that the land and slaves worth gaty than
Debts large they were unreasonable,
the property bound judgments arr executions to
proper make the security thus amplsi and turned out
proved be excessive There LEGALITY either
in the extension Of the credit to 1--we that could net
affect other creditors inuousy unless ery to greater
amount than the secured debts thereby
shielded from them by which they defeated
delayed in the collection Of their debtsi personal
ADVANTAGE was thereby Intended to be secured to The common
the injury creditors. The land sold
afterwards, the time Thompson and
the proceeds If lis notes. the price used in the dscre Of
the debts secured 1t is remained after the
# the secured debts But before compliments obtained
judgments upon their claims and secured to themselves lien
upon or preference attachment
deed Of trust CT 18th November, @ executed to
which, it is conceded, the whole auce Of
proceeds land, we'll the slaves other things
included appropriated and will not be than su
discharge the preferred debts theil specified II the
object Of extending the time to increase the fund.-
no one complain, for il to the advantage Of all
debtor has lie right and Inappropriate his property
creditors preference others, when he pay
which, there be doubt there nothing
this transaction against law or morals IL IS but the common
case where creditors more fortunate vglant
than Others where all cannot be
admitted will be oyerplus after payment
of the the deeds Of us both Of which
made before filing these Bills and the complainan
TO these facts;
that all und arising from the proceeds Of the
slaves action conveyed in the deed would
more than enough for that purpose.
Consequently ind the trust deeds neither fraudu.
lent in law or fact the Ulls correctly dismissed We
therefore affirm the decree, with costs CARUTHERs
A correct copy, J. =. CLARK, Clerk.