Edward Douglass White

“ The result is that the law, as it now stands, permits an insolvent debtor to prefer one or more of his creditors over the others, in the payment of debts, by a sale of property in satisfaction thereof, and prohibits preferences or priorities of payment in a general assignment by the debtor for the benefit of his creditors. Only the legislature can make the prohibition against preferences equally operative in both classes of cases. The courts must recognize and enforce the law as it exists. ”

“ As a matter of fact, the portions of the general charge of the court set forth in the record make it clear that the question of reservation of a secret benefit to Warten in the sale was particularly called to the attention of the jury, as necessary to be considered by them in arriving at a conclusion as to the validity of the transfer. We are unable to see that the charges in question had a tendency to cause the jury to regard the fact of the employment of Warten and the sale to his wife as not important to be weighed by them in passing upon the bona fides of the sale to the Memphis firm. ”

“ He may convey the whole or any part of his property in payment of an antecedent debt, and , if the price is reasonably fair, and there is no reservation of a benefit or trust in his favor, the sale is valid, and will be sustained, whatever may have been the debtor's intentions, and though the preferred creditor knew of such intentions, and that the sale would leave the debtor unable to pay his other debts. ”