Porter v. Stricker

Citations

• 44 S.C. 183
• 21 S.E. 635
• 1895 S.C. LEXIS 65

Syllabus

<p>1. Assignment por Creditors — Mortgage.—Whether a mortgage is void under the assignment law is to be determined by the application of the following rules: (1) An insolvent debtor may, by a bona fide mortgage, which is intended merely as a security for a just debt, prefer one of his creditors. (2) If the mortgage is really designed to operate not as a , security merely, but as a means of transferring the debtor’s property to the favored creditor, in preference of the other creditors, then it is void under the assignment law. (3) The question as to what was the intention is a question of fact. Cases reviewed.</p> <p>2. Ibid. — Ibid.—Under the application of these rules, the mortgage in this case was held not to have been intended to operate as an assignment.</p>