The comet. [volume] (Jackson, Miss.) 1877-1882, 1881-12-10
MArrIsoN q McCARRoLL,
MAX JUDD a. Co,
fro DIX REPoRTED.l


MAX JUDD e. Co.
Appeal from the Circuit Court Of Mar
shall count, Hon. John W. @. Watson,
Judge. Assignment for the benefit Of
creditors. The Circuit Court instructed
the jury that tho deed Of assignment was
void on its face. The several provisions OF
the instrument which, 1t is said, make that
instruction proper, are The direction
that the trustee "shall sell and dispose Of
In due course OF trade, said goods, wares
and merchandise Mt discretion, or in lots
or at auction, II deemed most advisable by
him for the speedy determination OF the
duties herein imposed consistent with all
-creditors' interests" 2. The said DAN
cep (trustee) shall have power Gin the In
terest OF the creditors herein named at his
reasonable discretion) TO make such small
purchases Of goods, as will the better Gu
able him to sell the stock on hand to the
best advantage OF the creditors" 3. "In
the exercise OF the duties imposed upon
him by the provisions OF this this deed,
the said trustee shail have the power, and
he 10 hereby directed 10 pay all such
reasonable counsel fees as are just and
proper against the grantors herein in the
matter Of this conveyance and concerning
the matter involved in this assign.
ment," etc.
q The second instruction for the plaintiff
IL the court below told the jury that the
proposition made by appellants TO credit.
ora, after making the Assignment to com
promise with them by paying sum less
than theyr demands, was Q circumstance
from which IL might infer that the deed
was void, a. intended to hinder and delay
creditors. 'fi
The deed OF assignment further con.
tanned a provision preferring the estate
ef Jobs r. NsCarroli, deceased, Of which
estate McCarrpll, one Of the grantors in
the deed, was administrator. The court
instructed the jury In substance, that this
preference 10 the estate OF John II. Nc |
carroll, was q reservation Of benefit 10 |
HE grsutor.
reatherstonc q Harris for appellants.
L. Johnston, eossra.
CAMPBELL, j.,
HID
I. Our Interpretation Of the first OF the
several provisions objected to, IL that IL
empowers the trustee TO sell the goods by
'etail, or In lots or At an auction, As he
nay consider advisable. IL 10 the mere ex.
,ression Of what the trustee could do, IL
he conveyance was silent In this respect. L
not an attempt 10 provide for the con-
inuance Of the business Of the grantou,
4 they had carried II on. The "due
ourse Of trade" nay be fziriy construed
q having references 70 the mode Of selling
y parcels, instead OF By /" lots.n We End
o fkult with this provision.
= IL 10 . just exercise Of power By Q
sbtor assigning his stock Of goods 10
uthorize the fsEi0nee for creditorI 70
rake q dlserect use 81 the trust fund 70
be extent found necessary 10 make IL avail
bic 30 the purpose Of the trust, ph<rs ttst
epsr IL ma.ffs<fly nof 10 Afsder or dsfef,
u - spesd ia alpa.<eg<ops fet< Q tt<
ceds. Without such power In the instru-
lsnt, ths trustee would take The risk OF
NJ purchase, however sdrsnt.secgs be ,
fight deem u. The power would not
xisf, n not conferred, but va think y
proper one 70 Be conferred, where u ~
|riufr s~1lIlarT 4 The adrxut&Feons ap- q
roprf s1apn Of tha gpods q the debtor 10
= - n crsditorr ksd n not devics
. 80 slksr p9Psss. The fsct that Ne
sfsor; <~<,s~ ~ a. fr1sf1s, does not
- y frrninlIuf % - Oct. Z
9. ne 1sgd sl..ss 2 - assa 2 a. .
nag k.pe been dsHEns1 v tIrsct TIE
uEtss 70 p.y cut of ~ 80 propsr<5,