The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1883-01-26
LEGAL LORE.
Points Of Decision of Great Interest
TO the Commercial
World, Rendered by Judge Pardec Ia
Federal Court,
And Iudpn M,rnr,n;.E Nau,nu.;,.. A..
And Judge Mccormick COncurring An
Able Document.
Other Subjeet-Matter Of Interest.

The following is the decision OF Judge
Pardee in this case, which will prove inter
esting reading to the commercial world
United States Circuit Court, Northern District OF
Texas, at Dallas, December Tenn 1883 / g,
Lawrence VS.. A. y. Norton on Demurrer:
The action is one for damages for tres
pass in seizing and converting certain goods
alleged by the plaintiff to have belonged to
him, Plaintiff sets out his ownership as
derived under certain deed of assignment
in the words and figures to-wit:
State of Texas. kaufman County.
This indenture, made the 9th day Of
october, A. ID. 1881, between S, w. Wallace,
OF the first part, |. G.. Lawrence, of the
second part, and the several creditors of the
party OF the first part, who shall hereafter
accede to these presents OF the third part,
witnesseth; That, Whereas the party of
the first part is indebted to divers persons
IN considerable sums of money, which he
IS at present unable TO pay in full, aud he is
DESTROYS 10 convey all his property for the
benefit OF his creditors. Now the party of
the first part, in consideration of the
premises, and of one dollar paid
TO him by the party of the second part,
hereby grants, bargains, sells, assigns and
conveys unto the party of the second part,
and his heirs aud assigns, all his lands,
tenements, Entertainments, goods, chattels
aud chooses in action, OF every name, nature
and description, wheresoever the same may
be, except such property as may be by the
constitution and laws of the state exempt
from forced sale, TO have and to hold the
said premises unto tho said party of the
second part, his heirs and assigns. But
in trust and confidence TO sell and dis
pose of said real and personal estate.
ana 10 collect said chooses
in action, using reasonable dis
erection as to the times and modes of selling
and disposing OF said estate, as IL re-
spects making sales for cash or on credit, at
public auction or by private contract, tax.
ing part for the whole, where the trustee
shall deem II expedient so to do; there in
trust to dispose Of the proceeds o! said prop.
erty In the manner following, viz:
First-To pay the costs aud charges OF
these presents, AMI the expenses OF exc.
cutting the trusts herein declared, together
with all taxes, which are charge upon any
Of said property.
mainder OF the said proceeds to and among
all the parties OF The third part who will &C.
cept thereof in full satisfaction Of their
claims against said party of the first part,
notably, in proportion to their respective
debts.
Third-To pay over any surplus, after
paying all the parties Of the third part who
shall acccde hereto, ms aforesaid, In full, 10
the party OF the first part, his executors,
a administrators OF assigns, and the party OF
tue first part hereby constitutes aud up.
points the party OF the second part his at.
I ncy irreyocabe. with power OF substi.
I idon. authorizing him In the name OF the
party OF the first part, or otherwise. ms the
q - may require, TO do any aud all acts,
matters and things, 10 carry into effect the
tue intent and meaning Of these presents,
WI CHI the party nj the fret part might 10
II pei sonally -c''Ut. .W' 'hr lar'N ~ ~.
~ md part HEREBY .ccvp,n., thc,u Truss
covenants to and with each of the other
p.l les hereto, TO execute the same faith.
mll and the party OF the first part hereby
co, nants with the said trustee, from time
TO me and OF al times when requested, to
give i'm all the information In his power
resp, ting the assigned property, aud 10 OK.
cout, and deliver all such instruments VI
furti IT assurance ms the party OF the sec.
ond ldrt shall be advised by counsel TO be
nee ary in order TO carry into full effect
the .ue intent aud meaning OF these pres.
emit aud the parties OF the third part, by
acc, ing hereto. and by accepting the ben.
eft iefcin conferred, hereby and thereby
ayr, to and with the said party of the first
part TO release him from any and all claim
or claims, debt or debts, demand
or demands, OF whatever nature,
which they respectively have and
holt against him. aud this assig nment Is
made for the benefit OF such OF the parties
OF tile third part only as will consent 10 &C.
gant thpit nfnnnftia nata sham nj the saia
estate OF the said party OF the 6rst part aud
HIM from their respective claims.
Witness our hands this ?<th day OF 0cto.
Der, A. u. 1881.
s. W WALLACE,
|. q. LAWRENCE.
Then follows separate Acknowledgements
before ]. Il. aud ek.oillcers N. 7. aud list OF
liabilities and assets.
The demurrer presents the question
whether the foregoing assignment Is fraud.
ulent on its lace aud therefore void as
against the sssignuf's creditors
II IL valid and shall be carried out, aud
The trust Administered according 20 the
terms specified, It's effect against creditors
who do not grant the exacted release, will
I've to delay them. according 10 the discre-
lion Of the assignee, TOR an indefinite period
IN their remedies against the property upon
latin OF which they gave credit, II their
remedies are not entirely lost. and
finally. amer this indefinite delay,
sslr ' SsIsio, E fsSsssdns r., against rs
,sse,s have been converted into ready cash |
md put into his pocket beyond the reach Of
wits Teri facias. In short. In such case the .
lebior has enacted forced stay Lave dur
ns he d:tcrciioa OF his agent 70 enable