Estes v. Gunter

Citations

• 122 U.S. 450
• 7 S. Ct. 1275
• 30 L. Ed. 1228
• 1887 U.S. LEXIS 2123

Syllabus

<p>In Mississippi an insolvent debtor may make a general assignment of his property for the benefit of his creditors, with preferences.</p> <p>A deed by an insolvent debtor in Mississippi to secure sureties on his note made in advance of, and in contemplation of, a general assignment for the benefit of creditors is valid under the laws of that state, although containing a provision that the grantor shall remain in possession until the maturity of the note.</p> <p>A payment by an insolvent debtor of a debt due to his wife, in advance and in contemplation of a general assignment for the benefit of creditors, does not invalidate the subsequent assignment.</p> <p>The taking of supplies and of money for family use from the store of an insolvent trader by his wife does not invalidate a general assignment for the benefit of 'creditors, subsequently made.</p>