Brennan v. Willson

Citations

• 7 Daly 59

Syllabus

<p>A general assignment for the benefit of creditors to three assignees who all accept the trust vests the estate of the debtor in them jointly, and although one after-wards notifies his co-assignees that he resigns the trust and will not act, and fails to give a bond, the two remaining assignees cannot act without him if he is living and has not been removed by the court, and a conveyance by them alone of the debtor’s real estate is void as against the creditors.</p> <p>It seems, that after all the assignees named in the general assignment have accepted the trust, no one of them can by any act of his own, or of his cotrustees, be relieved from the duties and powers with which he has thus become charged and clothed, and that he can only be relieved by an order of the court.</p> <p>It seems, also, that a failure of an assignee to give a bond is sufficient cause for his removal by the court.</p>