Muller v. Norton

It was held by this court, in Lawrence v. Norton, that an assignment for the benefit of creditors, under the laws of Texas, wherein the assignor has expressly reserved an interest to himself, to the exclusion of his creditors, is on its face null, void, and of no effect, (see 15 Fed. Bed. 853;) and in that ease we also hold, considering the act of 1879 in relation to assignments, that, under the third section of that act, assignments for tlie benefit of preferred creditors, who are preferred on their own election, under stress of a penalty forfeiting their whole claim, are not in terms aided…