Ware v. Wanless

Citations

• 2 Wyo. 144

Syllabus

<p>Assignment. — A provision in an assignment which reserves any of its assets to the debtor before full payment of creditors, vitiates the instrument whether the reservation be provided for by coercive terms or not.</p> <p>Idem. — An assignment which contains coercive terms, whether their aim is to provide a reservation or not, vitiates the instrument a fortiori, if they do aim at a reservation. The debtor cannot prefer himself to the creditor in respect to the assets, and a provision in the assignment which tends to secure, is a provision which does not secure that preference, but renders the assignment void.</p> <p>Fraud. — Where an assignment exhibits on its face constructive fraud, that feature cannot be overcome by proof that there was no fraud in fact, and parties to the instrument are estopped from alleging good faith against its import; fraud in law is as fatal as fraud in fact, and equity will not sever the elements of fraud from the instrument, and give effect to the rest. The rule at law and in equity, is to treat the assignment, if fraudulent, as void in toto.</p>