Page:Federal Reporter, 1st Series, Volume 3.djvu/830

TRUSTEES MUT. BUILDING FU^SID, ETC., V. BOSSEIUX. 823 �lions of the demurrer, chiefly technical, I shall proceed to consider those which go to the merits of the bill and embody the substance of the defence. �The substantial objection of the defence is that the trustees in bankruptcy, who are the complainants in this suit, have no right of action, no authority to sue, no interest entitling them to pursue the defendants, in this court or cause, either at law or in equity; and that, if they have a right to sue at ail, it is at law and not in equity. The preliminary inquiry is whether the complainants have a right to sue at ail. This right depends upon section 5046 of the United States EeVised Statutes, which is as foUows : �"AU the property oonveyed by the bankrupt in fraud of his creditors ; ail rights in equity, choses in action, patent- rights and copyrights ; ail debts due him, or any person for his use, and ail liens and securities therefor; and aU rights of action which he had against any person arising from con- tract, or for the unlawful taking or detention, or injury to, the property of the bankrupt ; and ail his rights of redeeming suoh property or estate, together with the like right, title, power, and authority to sell, manage, dispose of, sue for, and recover or defend the same, as the bankrupt might have had if no assignaient had been made, shall, in virtue of the ad- judication in bankruptcy, and the appointaient of his assignee, but Bubject to the exceptions coiitained in the preceding sec- tion, be at once vested in such assignee." �Another section (5103) provides that trustees shaU have ail the rights and powers of assignees in bankruptcy. An- other section (5047) provides that the assignee shall have the like remedy to recover ail the estate, debts, and effeets in his own name as the debtor might have had if he had re- mained solvent. �The language of section 5046 is very broad. It vests in ihe assignee in bankruptcy, amongst other things, "ail righta in equity and choses in action;" "ail debts due the bankrupt, or any person for his use;" "ail his rights of action for prop- erty or estate, real or personal," and "for any cause of action arising from contract," and from "the unlawful taking or dôr ����