The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1885-01-25

)ond with TWO or more goOu anu sunny
lent suretes, in an amount moi lessN ,
han the aggregate value OF the as n
,igned property as shown by the deed N
VI assignment, to be approved by the
Judge of the county court Of the county
N Which the assignee resides; If there
be none,Or no be absent from the county
or disqualified to act, then by the Judge
of the district court of the district IN
which such county is situated, condi-
toned, that he will faithfully discharge
his duties as assignee and that he VIII
make a lust and proportionate distribu-
ton of the net proceeds of the assigned
estate among the creditors entitled n
thereto, which bond shall be payable to D
the state of Texas, and shall be filed
with the county clerk of the county III =
which the assignee resides and shall
inure to the benefit of the assigned L
and the creditors, who may maintain G
an action thereon, against such as /
signee and his sureties, in his or their ,
own name, jointly or severally for any l
breach of duty, fraudulent act or viola
ton of the law on the part of such as |
signee, by reason of which such assignor {
or any creditor shall sustain any dam {
age or loss, and upon the filing of said
bond, the assignee shall take possession
of the assigned property, ana proceed
| forthwith to execute said assignment,
according to it's terms and provisions,
and if such assignee shall not, within
five days after the delivery of the deed
of assignment to him, execute an appro-
val bond and file the same with the
county clerk as herein provided, 1T shall
be the duty Of the county judge or DIS
trict judge, upon the application OF the
assignor, or any one or more OF ms cred,
itors, and being satisfied that such bond
has not been given, approved and filed
by the first assignee, to appoint in writ
ing another competent assignee, who
shall upon the execution OF such
bond, approved and filed as herein pro-
yided, take possession Of the assigned
property, and proceed 10 execute the
assignment in like manner as the orr
ginal assignee should have done. And
1t is further enacted that every assign
= ment made under this act shall define
d and settle the rights of creditors under
il, and shall set out the duties OF the
assignee, with relation to the assigned
property, and no assignment shall be
- aided by this act which does not comply
" with its provisions; provided, however,
- that no fraudulent act or purpose OF the
, assignee alone, where there is no col
a fusion between him and the asslgn0r,
y, ~ shall haye the effect to defeat or avoid
" the assignment, but such fraudulent
u act or purpose on the part Ofthe assigned
" shall be sufficient cause Tor his removal
~ and the appointment Of another by the
!; proper authority.
u, Sec. l.. Every creditor consent
gu ing to an assignment, upoi
VI the filing of his claim against thu
IL assigning debtor with the assignee a
's- provided for in section of this act
a. shall accompany the same with dis
70 tinct statement of its particular natur
III and amount, which statement shall b
". supported by the affidavit of the cred
70 tor, his agent or attorney, that the sam
az is true, that the debt is just, and this
cn there are no credits or offsets thu
we should be allowed against the claim, o.
or cept as shown by the statement, an
70 the assignee shall receive and file 4
'c vi claim, which is not so authenticated, bl
Vi shall return the same forthwith to u
~ party forwarding it, stating his reason
eu' for rejecting the claim.
'oI See S. Any creditor not consentI
ona to the assignment, may garnishee u
oss assignee for any excess remaining
's ~, his hands, after the payment OF co
~ senting creditors, the amount OF the
Icn debts, and the costs and expenses of o
eS W ecuting the assignment.
AZ Sec. 8. No falling debt
eel, shall have the right
Ivy, assign his property under the Sd secti
gu o OF this act who at any time previous
i ,ha or in contemplation OF the assignmel
Ino transfers or conveys his properly,
- any part of the same, with the intent
po design to defeat, delay or deiraud crot
u !,on tors, but the assignee shall, If the
~ signmeut be not set aside for lrar
,i Us execute the same and distribute the l
uSTy, proceeds arising thereirom, proportlt
clu 10y w., 5o,,t n,aference tn any a
Vi any creditor of such assignor may 81
10 iect the property fraudulentiy tral
w, ferred or conveyed, or any otl
9 ...Hi property, the assignor may have
w afterward acquire which is not eNen
i Il ave TO him under the constitution and la
nm ! IL, of the state to the payment of
IN balance due said creditors on his clai
l thn provided however, If it appear to
tns satisfaction of the court or ju
' 'ud as the case may be, in
. .ia action against the Epurchaser
t said property, to recover or subject
o I,l salne to the payment of creditc
he.l debt, that he purchase the same in e
y w faith and for a valuable considerati
uI9r and without any reason to believe q
' iei5 the debtor was conveying or transi
S SAY ring his property with the intent or
co. sign aforesaid, and who could not III
"a discovered such intent or design by
''"'o exercise of that degree of caution {
-, inquiry usual to prudent men, 81
I'm, IN purchaser shall be held to have
ition auired a good and valid title to s,
W property as against such asslgnor
r, by ii' So W ~ Everv assipnment made
NJ the purpose of hindering, delaying
anu defrauding creditors, shall be uull
,inS,. void.
S VI y: See. IL. Every assignment IN
and uhuei Srls -, "t tLa aesirnen nli tho n,
peinS erty of every kind or oharac
t uAe- i'm law or in equity, belonging
lltuI9 the assignor, except that which Is
= anu empt to him by the constitution
i inioii' laws OF the state, and every asslgnm
,lV III shall also state the aggregate amour
: 3, Wv. an of the assets and liabilities of the
. ~ signor, and every assignor shall
hoiJo bound by the statements and decl
oonS tons made in his deed OF assignm
euUu and his creditors shall have the rigl
sher; act and rely upon them as being
s so,Iio and made in good faith.
, SWu'u See. II. The statement of cred
-, ,'tny verified and filed with the assignee
n no,, hereinbeiore provided, shall be sullic
Iuh, TO Justify the assignee in allowing L
i ishod a valid claim against the estate, an
a aol1 nr shall be so allowed, and such cred
90 vi shall be entitled to his proportion
i,,,o, share of the debtors estate, unless
fling SsSnSe hall within siytv DAYS after
ssigu- sHI ,t,o 9,i' of tho limo within w
VI the eA Slpai,ro nre rennired bv
to the cI a1 dc their claim.
& and IVY atl, '" an action IN the dislri,
yaiust seituto oo,,rt oC No conntv In vybich
nd ev counvs oore oS;de S"o o1"ins} The assi
III not assisliuo ,,hosa ciain Is disn,
or the anu o asida s,uch oiIow.ncas and
ro ypSo strain the payment thereof, for W
yn his PURPOSE . tho "ss'Snol, Vi anS 49,, ioi
al dis creultoas, ,i"y meNe ,n ,vy ~ 1V
ssign- VI seso ao,i99n, ~ ,r,, tho business
rther, pr9pUitt a W. thn vi Jsnntod c,sim and
eneral Nuuul.y Ua 'a0 ons l"n aa,,iJ nni ho n
credi- appear .h sa an eoS T., voe hv the
no as s !aiheu az ra1 No - s vd ynon
four lyor asainsv VIZ "ssls .,,r, tharno,
yment claluu vi any uisius oIir "a T., y,Lo