M. Noyes & Co. v. Hickok

Citations

• 27 Vt. 36

Syllabus

<p>To render an assignment void under the act of 1843, as a general assignment, it must bo of substantially all the debtor's property, and in trust for the benefit of his creditors.</p> <p>An assignment which does not purport to be a transfer of all the debtor’s property, and whore there appears to have been retained by the assignor nearly as much property as was transferred to the assignee, should be regarded as a partial assignment only, and therefore not void under the act of 1843.</p> <p>The right of a trastee to retain claims in his favor, out of the effects in his hands, extends only to existing demands founded on contract, and not to matters on which the trustee stands simply as surety, unless he has absolutely assumed their payment.</p>