Bank of Mobile v. Dunn
Supreme Court of Alabama
Pill in Equity, by Assignees, for Directions as to Execution of Trusts. Appeal from Mobile Chancery Court. Heard before Hon. H. Austill.
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Pill in Equity, by Assignees, for Directions as to Execution of Trusts. Appeal from Mobile Chancery Court. Heard before Hon. H. Austill. On January 31, 1874, James Crawford, of Mobile, assigned all his individual property to "W.-D. Dunn and W. G. Jones, in trust, for the payment of the debts due by him to his individual creditors, equally and ratably, and if there should be any surplus remaining of the proceeds of such property, after paying his individual creditors, that such surplus should be applied to the payment of the debts and liabilities- of mercantile firms, of which he then was, or…
1Opinion of the CourtBbickell, C. J.
— Assignments for the benefit of creditors are subject to the same rules of construction which are applied to other contracts or conveyances. The object of all construction is to ascertain, and, so far as it is possible, to give effect to the intention of parties. If the intention is not clearly and distinctly' expressed — if the words of tlm instrument are general, or, if there is ambiguity of expression, admitting of two or more constructions, that construction must be adopted, in obedience to the maxim, ut rea magia váleat quam pereat,. which will make the instrument available by all its…
2Cases cited6 opinions
- Bank of Pennsylvania v. M'CalmontSupreme Court of Pennsylvania · 1833
- Hogan's Ex'r v. CalvertSupreme Court of Alabama · 1852
- Doe ex dem. Shackelford v. Planters' & Merchants' Bank of MobileSupreme Court of Alabama · 1853
- Peacey's Creditors v. Peacey's Adm'rSupreme Court of Alabama · 1855
- Tarver v. RoffeSupreme Court of Alabama · 1845
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3Cited by7 opinions
- Wright v. LeeSouth Dakota Supreme Court · 1893
- Evans, Fite, Porter & Co. v. WinstonSupreme Court of Alabama · 1883
- Espy v. ComerSupreme Court of Alabama · 1885
- Landauer v. ConklinSouth Dakota Supreme Court · 1893
- Eau Claire Grocer Co. v. HubbardWisconsin Supreme Court · 1897
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