Sampson v. Jackson
Supreme Court of Alabama
Appeal from the Circuit Court of Colbert. Tried before the Hon. H. C. Speake. On July 14th, 1893, A. W. Jackson brought an action in a justice of the peace court against Mrs. Ella T. Newsom, which was founded upon a promissory note, executed by the-defendant to one Hinton E. Carr, on June 2, 1893, and payable 30 days after date.
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Appeal from the Circuit Court of Colbert. Tried before the Hon. H. C. Speake. On July 14th, 1893, A. W. Jackson brought an action in a justice of the peace court against Mrs. Ella T. Newsom, which was founded upon a promissory note, executed by the-defendant to one Hinton E. Carr, on June 2, 1893, and payable 30 days after date. The defendant in answer to the summons in said cause, paid into court the money due upon said dote, and suggested that James N. Sampson, the assignee of the Tuscumbia Banking Company, claimed the money due upon said note ; and prayed that said Sampson be required to…
1Opinion of the CourtHaralson, J.
1. It will be remembered that a general assignment by an insolvent debtor is not prohibited— is not declared void by the statute. Its only effect is in its operation. The statute was designed, merely, to deprive such assignments of the character of a particular security for a particular debt, converting it'into a general security for the equal benefit of all creditors who come in and claim under it. And, as we have heretofore held, an assignment of all of a debtor’s- property, by which preferences among his creditors is made, is perfectly good, as between the debtor and his transferees or…
2Cases cited7 opinions
- Hatchett v. BlantonSupreme Court of Alabama · 1882
- Rapier v. Gulf City Paper Co.Supreme Court of Alabama · 1879
- Grangers' Life & Health Insurance v. HamperSupreme Court of Alabama · 1882
- Walker v. Miller & Co.Supreme Court of Alabama · 1847
- Davis v. SwansonSupreme Court of Alabama · 1875
2 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Randolph v. East Birmingham Land Co.Supreme Court of Alabama · 1893
- Gay, Hardie & Co. v. StricklandSupreme Court of Alabama · 1896