The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1885-01-29

siFnue, Wv fens0n 0l liiOli fuoi assisnnf
nf HnN rfndiinf Shalt sustain any dam.
nFn nf lNss, aud nlun The iilinr ~ tnid
hIud, the HssirItn ahnll take possession
AZ tho assigned property and proceed
forthwith ~ execute said Hfsi.nfunnii
according tn Zee terms aud provision
md 10 such assignee shall not, Within
1--WE days amer the delivery at tho deed
ui HfHIuumDut 90 liint execute uu nppfu-
val Nnnd aud uln tho samo With 'thf
county ulurl' nH herein pTDv iiei, tfhHll
hr lha duty ui tho county iudfrur dis
tIirt Judge, upon the application ui TIE
a-ziguur, ar any one ur moro eft bis Ciru.
itors, Hud being satisfied that such bond
has NOT heOn piNeu, approved Hun oiled
by Tho hfai nssiButc, DO appoint in writ
lux another competent U.slpncp, Wuu
shall upon thu execution ut surl
bond, approved ana n.cd a. hGrciu pro-
| properly, aud proceed 40 execute the
assignment In liku manner .H tho url-
/ gluti assignee should have done. And
I 10 L. further enacted that every Rssigu-
mcut made under this act shtl, define
and settle the rights OF creditors under
II, aud shall set out the duties Ut the
assignee with relation IN the assigned
property, aud no assignment shan he
aided 10y this Hot which does not comply
with It's prov sionsi provided, however I,
that no fraudulent act or purpose of tho
assignee alone, where there IL no col
| fusion between him and tho NssignOr,
shall have the effect 10 defeat or avoid
1 the assignment, hut such fraudulent
act or purpose on the part oftho assignee
shall he sufficient cause Tor his removal
aud the appointments OF another by the
proper authority.
Sec. 4; Every creditor consent
ing to an assignment, upon
| the fling OF his claim against the
assigning debtor with the assignee as
provided for in section ot this act,
shall accompany the same with dis
tinct statement Of its particular nature
aud amount, which statement shall be
supported by the affidavit OF tho crodi-
tor, his agent or attorney, that tho same
Is true, that tho debt Is just, aud that
there arc no credits or offsets that
should be allowed against the claim, OK
cept rs shown by tho statement, aud
| the assignee shall receive and illG no
claim, which IN not so authenticated, bnt
| shall return tho same forthwith 10 tho
party forwarding II, stating his reasons
FOR rejecting tho claim.
Sec. S. Any creditor not consuming
to the assignment, may garnishec the
assignee for any excess remaining in
his hands, after the payment OF con-
]
debts, and the costs and expenses OF az
ccutiug the assignment.
Sec. o.. No failing debtor
shall have the right TO
assign his property under the 3d section
OF this act who at any timo previous 10
or in contemplation OF tho assignment,
transfers or conveys his properly, or
any part OF the same, with tho intent or
design 10 defeat, delay or defraud credi-
I iAW luI oil a
signment be not SGT aside for fraud,
execute the same and distribute the not
proceeds arising thereirom, proportion
ately among all the creditors Of thu
assignOr without preference TO any, and
any creditor of such asSignur may sub
icct the property irauduiently trans
ierred or conveyed, or any other
property, tho assignor may have or
afterward acquire which il not exempt
to him under the constitution and laws
of the state To the payment of the
balance due said creditors on bis claim,
provided, however, if it appear TO tho
| satisfaction of the court or jury,
as the case may be, in an
action against the purchaser OF
said property, to recover or subject the
same to the payment OF creditors
debt, that he purchase the same in good
faith and for a valuable consideration,
/
the debtor was conveying or transfer
ring his property with the intent or de-
sign aforesaid, and who could not have
discovered such intent or design by the
exercise of that degree of caution and
! inquiry usual TO prudent men, such
purchaser shall be held to have ac-
| quired good and valid title TO such
| property rs against such assignor and
| his creditors.
ssrr,,g Il fgNN
tho purpose of hindering, delaying or
defraudlng creditors, shall be null and
void.
See. IL. Every assignment made
under this act shall contain clause,
conveying to the assignee all the. prop
erty OF every kind or character,
in law or in equity, belonging to
the assignor, except that which is eX-
empt to him by the constitution and
laws Of the state, and every assignment
shall also state the aggregate amount OF
of the assets and liabilities of tho as.
signor, and every assignor shall be
! bound by the statements and dcclara-
tons made in his deed of assignment,
and his creditors shall have the right to
act and rely upon them as being true
\ and made in good faith.
Sec. II. The statement of a creditor,
verified and filed with tho assignee, as
nGTSluDBlOEo pEoNittcus SH.iil Dc SulliFiGii'
! to justify the assignee in allowing it as
Valid claim against the estate, and il
shall be 50 allowed, and such creditor
shall be entitled TO his proportionate
share Of the debtors estate, unless the
assignor or some creditor disputing the
same shall, within sixty days after the
expiration of the time within which
creditors are required by this
act to file their claim, in
stitute an action in the district or
! county court of the county ia which the
assignee resides, against the assignee
and creditor, whose claim is disputed,
to set aside such allowances and to re-
strain the payment thereof, for which
purpose the assignor, or any creditor or
creditors, may have remedy, Jointly
or severally, by injunction or other
proper action, to try the business and
validity Of the disputed claim, and if it
| appear that an action could not be main
tanned at law or in equity, by the cred
tor against the assignor, upon such
claim or any disputed part thereof, the
same shall be disailowed, in whole or
in part, as the case may be, and the as
signee restrained frsm paying the same,
or such portion as shall be disallowed,
and for the information of the assignor
or his creditors, the assignee shall allow
them or any of them, to take copy Of
any creditors claim filed with him,
as herein provided. And if the
assi2nee's allowance of such
claim, or any part thereof,
be set aside, the creditor holding or fill
ing such claim shall pay all cost of the
proceedings, otherwise the assignor or
creditors disputing the same shall pay
costs.
And be it further enacted, That il the
assignee shall have paid anything to
the creditor owning or filing tho dis
puted claim before the same was dis
puted, such assignee shall be entitled to