Report of Cases Argued And Determined in the Supreme Court of Alabama volume 25

Cover Report of Cases Argued And Determined in the Supreme Court of Alabama volume 25
Report of Cases Argued And Determined in the Supreme Court of Alabama volume 25
Alabama Supreme Court
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C. 156. With the exception of the notes on McKenzie, Price, Hugh Montgomery, Thomas J. Wright, and some few others, the claims assigned were under fifty dollars, and, in- deed, by far the greater portion of them under twenty dol- lars ; and as the answer of McKenzie admits, that the debtors generally were residents of the district in which he resided, we think that by the exercise of ordinary diligence on his part, most of the available debts could have been realized within a year after the acc...eptance of the trust. There would, undoubtedly, be cases in which this result could not be accomplished ; but in the absence of any special cause, we see no good reason for allowing a longer period to collect from debtors who were solvent, and whose debts were due at the execution of the assignment, or on the first of January thereafter, as the accounts generally were.
The assignment requires the trustees to apply the proceeds of the claims, &c. , assigned, to the payment of the debts of Royall, in equal proportions ; but the record shows, that every creditor of Royall, whose debts, so far as we can learn, were a charge upon the trust fund, accepted the provisions of the assignment shortly after its execution ; so that there was no necessity for McKenzie to retain the moneys in his hands, in order to ascertain these debts, after the expiration of the year.


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