Wilks v. Walker

Citations

• 22 S.C. 108
• 1885 S.C. LEXIS 1

Syllabus

<p>1. The manifest object of section 2014 of the general statutes is to prevent an insolvent debtor from transferring or assigning his property for the benefit of one or more creditors to the exclusion of others, and whether this object is sought to be effected by a formal deed of assignment or in any other mode, can make no difference.</p> <p>2. Where an insolvent debtor transfers all of his property to one creditor by means of a chattel mortgage and, at a later date, by a bill of sale and a deed of conveyance, all under a design originally determined on by himself and the favored creditor, for the benefit of such creditor and another, to the exclusion of all other creditors, the transaction is void because in violation of the statute that prohibits assignments for the benefit of creditors from giving preferences.</p> <p>Mr. Chief Justice Simpson dissenting.</p>