Polkinghorne & Lawrence v. Martinez

Citations

• 65 Miss. 272

Syllabus

<p>Assignment. Discretion granted assignee. Effect thereof. Case in judgment. .</p> <p>An assignment for the benefit of creditors which provides that the assignee, after paying certain creditors therein named and preferred, “shall pay any, other debts of said firm as fast as money sufficient shall come into his hands to pay the same, at his discretion,” is fraudulent and void as-against unpreferred creditors of the assignor not assenting thereto, because of the attempt to confer upon the assignee a discretion as to the payment of such creditors, which the assignor could not legally retain to himself or transfer to the assignee.</p>