Contemplation of the breaking up of one’s business or an inability to continue it; knowledge of, and action with reference to, a condition of bankruptcy or ascertained insolvency , coupled with an intention to commit what the law declares to be an ” act of bankruptcy ,” or to make provision against the consequences of insolvency, or to defeat the general distribution of assets which would take place under a proceeding in bankruptcy. Jones v. Ilowland. 8 Mete. (Mass.) 384. 41 Am. Dec. 525; Paulding v. Steel Co., 94 N. Y. 339; In re Duff (D. C.) 4 Fed. 519; Morgan v. Brundrett, 5 Barn. & Aid. 289; Win- sor v. Kendall, 30 Fed. Cas. 322; Buckingham v. McLean. 13 How. 167. 14 L. Ed. 90: In re Carmicliael (D. C.) 96 Fed. 594
Black’s Law Online Dictionary
