Lucius Quintus Cincinnatus Lamar

“ That policy the court declares to have been the appropriation of the entire estate of an insolvent debtor to the payment of his debts, and, as a means thereto, to favor assignments, and to give them such construction that they may stand rather than fall; that its manifest purpose was to provide a mode by which an insolvent debtor, desiring to do so, may make an assignment simple and yet effective to pass all his property to an assignee for the benefit of such of his creditors as will accept a proportionate share of the said property, and discharge him from their claims ”

“ A positive direction to 'convert' the property assigned 'into cash as soon and upon the best terms possible for the best interest of our creditors' can hardly be construed into a discretionary authority to sell on credit, without doing violence to the well-established rule that the power to sell on credit will not be inferred from language susceptible of a different construction. ”

“ The validity of the above deed, in view of matters apparent on its face, constitutes the only question for consideration. We think that question is determined by the principle laid down in Cunningham v. ”