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• Format: Text
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• Published: North Dakota State Library
• Subjects: Politics & Government; sami
• Online Access: http://cdm16921.contentdm.oclc.org/cdm/ref/collection/p16921coll3/id/38533

26 NORTH DAKOTA REPORTS. president, Wrig/zt v. Ln, 2 S. D. 597. An assignment must be in good faith and it is subject to the code provisions relative to trusts and fraudulent transfers. 4 S. D. 237; 2 S. D. 597. 1t is not necessary that the inventory required by 4668, Comp. Laws, recite upon its face that it is a full and true inventory, if the fact is otherwise made to appear. 3 S. D. 462. An instrument that does not purport to be made by an insolvent debtor and to convey all the debtors property not by law exempt does not constitute an assignment. Sam////eyer v. Dab. F. €r' 1ll. I/r;. Co., 2 D. 346. An assignment which conveys to the assignee the absolute legal and equitable title to the assigned property charged with a trust for the payment of all or certain designated debts of the debtor constitutes the assignee the trustee of an express trust who is authorized to bring suit in his own name by § 4872, Comp. Laws. Sami/neyer v. Dak. F. C" /ll. Ins. Co., 2 S. D. 346. A creditor can contest the validity of an assign ment on the ground that it never was authorized by a duly elected board of directors. Wrig/U v. Lee, 2 S. D. 596. A foreign corporation may make a valid assignment for creditors and the directors are qualified to make the assignment without first obtaining the sanction of the stockholders, lVri.g'/zt v. Lee, 2 S. D. 597. Where the assignees report and admisssions show gross irregularities, his removal by the court without notice was not reversed. lfing v. /ll:C/urg, 63 N. W. Rep. 219. An assignor for creditors may move to vacate an attachment issued before the assignment. Tobertson v. Casper.wn, 63 N. W. Rep. 908. The insolvent law discussed in the courts opinion, E/ton v. O'C0mror, sr1/bra, became a law January 2nd, I896.