Joseph P. Bradley

“ If aid and encouragement is intended to be given to assignments, in the interest of creditors as well as debtors, as a substitute for the bankrupt act, the courts may well disregard incidental variations from the law as void under its operation, and sustain the assignment itself, if it contains the main thing,-the transfer of the entire property of the debtor for the benefit of his creditors,-and carry it out in accordance with the law for the purposes intended. ”

“ If non-consenting creditors should not pursue that course, in case of an excess, the sixteenth section of the act, when the trust has been executed, and the assignee desires to be discharged therefrom, provides that the excess shall be paid into the district court, subject to be paid out upon the decree of that court, which would, no doubt, be so made as to protect non-consenting creditors who might show themselves entitled thereto, and take the necessary steps to fix a legal claim on the fund, in so far as the fund would go. ”

“ The law itself, in section 8, takes care that the remedy of non-consenting creditors shall not be suspended for a moment. By that section it is provided that any such creditor may garnishee the assignee for any excess of the estate remaining in his hands after the payment of the consenting creditors, and the costs. Of course, the stipulation in the assignment, that the balance should be paid to the assignor, was intended and understood to be subject to this right of garnishment. Such a qualification of the stipulation would be a condition in law. ”