Commercial Standard Insurance Co. v. Merit Clothing Co.

STEAKLEY, Justice.

The subject matter of this case is an assignment for the benefit of creditors which is governed by Article 261 et seq., Vernon’s Annotated Civil Statutes. The suit was by Merit Clothing Company, a corporation, a non-consenting creditor, who is Respondent here, against John Black, the assignee, and his bonding company, Commercial Standard Insurance Company, Petitioners here. The judgment of the trial court that Respondent take nothing was reversed by the Court of Civil Appeals and the cause remanded. The Court of Civil Appeals was of the view that the trial court erred in…