MacVeagh v.Chase & Sanborn

The assignee appointed under our statute concerning general voluntary assignments by insolvents for the benefit of creditors, has a reasonable time within which to gain possession of the assigned property, and is not required to run a race with other • claimants, in order that by first obtaining possession his title may be made perfect. Lowe v. Matson, 140 Ill. 108; Mann v. Reed, 49 Ill. App. 406.

The important question in "this case is, therefore, when did the assignment take effect ?

Deeds take effect so as to pass title only from delivery and acceptance. To an indenture there are always at…