Mansur & Tibbetts Implement Co. v. Wood
Citation | 38 S.W. 898,63 Ark. 362 |
Parties | MANSUR & TIBBETTS IMPLEMENT COMPANY v. WOOD |
Decision Date | 16 January 1897 |
Court | Supreme Court of Arkansas |
Appeal from Drew Circuit Court, MARCUS L. HAWKINS, Judge.
STATEMENT BY THE COURT.
On the 21st November, 1894, R. W. Shelton, of Monticello, made an assignment for the benefit of his creditors. Plaintiff herein attached, and the assignee, Wood, intervened, claiming the attached property under and by virtue of his deed of assignment; and his intervention was sustained in the court below, and plaintiff appealed, relying for reversal of the judgment on three several grounds, to-wit:
Judgment affirmed.
Wells & Williamson for appellant.
Where a deed of assignment purports to convey all of the debtor's property, and refers to a schedule as thereto attached, and no schedule is annexed, the deed is inoperative. 23 Ark. 1. The personal property did not pass by the deed. A deed of assignment which provides for a sale at a time different from that provided by statute is void. 37 Ark. 150; 47 id. 367; 52 id. 30. The deed requires a sale within 120 days from the date of the deed, while the statute provides for a sale within 120 days after the execution of the bond. The withholding of property from creditors, even under guise of a homestead, is a fraud, and vitiates the deed. 27 Kas. 375; 25 P. 415; 47 N.W. 60. The rule in cases of excess of homestead upon which there is incumbrance, is to charge the incumbrance pro rata against both the homestead value and the excess. 40 Ark. 102; 31 id. 91; 57 Mo. 380; 50 Vt. 345; id. 700; 33Cal. 225; 121 Mass. 19; 75 Tenn. 319; 48 Pa. 315.
Z. T. Wood for appellee.
1. The description in this case is sufficient without the schedule. 39 Ark. 329, 394; Burrill on Assignments, p. 187.
2. The bond was filed on the same day the deed was executed.
3. A debtor may make a partial assignment of his property. The omission to include a homestead or more than a homestead is not fraudulent, unless done with intention to defraud or mislead.
Dan W Jones & McCain for appellee.
The actual transfer and delivery indentified the property, and supplied the place of a schedule. 124 U.S. 505. But really no schedule was necessary. 39 Ark. 330, which virtually overrules 23 Ark. 1. It was not unlawful for the debtor to try and save his homestead, 39 Ark. 571; 31 Ark. 203.
OPINIONBUNN, C. J., (after stating the facts.)
The deed of assignment, in the general description of the personal property, except evidences of indebtedness sufficiently points out the property to make its identity easily determined. At least, the description is just such as is usual in the cases of tangible personal property, and the notes and accounts are minutely set forth in the schedule attached. Burrill on Assignment, § 138, after reference in the preceding section to cases which sustain the position of appellant's counsel in this case as to reference to the schedule, has this to say: ...
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