Pierce Butler

“ Every such assignment is required to provide for ratable distribution of the insolvent's estate among the consenting creditors, and, whether or not so specified, is deemed sufficient to pass all the assignor's property to the assignee. Article 261. 'A debtor may make such assignment and shall thereupon stand discharged from all further liability to such consenting creditors. * * * Such debtor shall not be discharged from liability to such creditor who does not receive as much as one-third of the amount * * * allowed in his favor. ”

“ Chapman Milling Co., 37 S.W. (2d) 776, held that the questions at issue have been definitely settled by this court in the cases of Patty-Joiner & Eubank Co. v. Cummins, supra, and Haijek & Simecek v. Luck, supra. ”

“ And in a later case the court held that, though the statute, in so far as it makes provision for exacting releases should be held to be an insolvent law, and therefore suspended by the Bankruptcy Act, one who had accepted and received one-third of the amount of his claim under an assignment good at common law, though exacting such release, where no proceedings were had under the Bankruptcy Act, thereby discharged the debtor from liability. Haijek & Simecek v. Luck (1903) 96 Tex. ”