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Call Now: 904-383-7448Within 15 days after the recording of the assignment provided for in Code Section 18-2-43, the assignor shall, in connection with the assignee, prepare a full and complete list of all property of every kind, character, and description held, claimed, owned, or possessed by the assignor at the date of making such assignment, to which shall be attached the affidavit of the assignor that the list is true. The assignee shall also attach an affidavit that he has examined the books and other papers of the assignor, that he assisted in the preparation of the list as far as possible, and that to the best of his knowledge, information, and belief the list is correct. If he cannot make such affidavit, he shall state the reason therefor.
(Ga. L. 1894, p. 90, § 7; Civil Code 1895, § 2704; Civil Code 1910, § 3237; Code 1933, § 28-308.)
- In light of the similarity of the statutory provisions, annotations decided under former Ga. L. 1880-81, p. 174 and Ga. L. 1884-85, p. 100 have been included in the annotations for this Code section.
- Former Ga. L. 1880-81, p. 174 was remedial in nature and should be strictly construed against the assignor and assignee, and liberally in favor of the creditors. Turnipseed v. Schaefer, 76 Ga. 109, 2 Am. St. R. 15 (1886) (decided under former Ga. L. 1880-81, p. 174).
- Former Ga. L. 1880-81, p. 174 was mandatory and assignment by an insolvent debtor for the benefit of creditors is void and conveyed no title when no schedule or inventory was attached to the deed of assignment. Crittenden Bros. v. Coleman & Co., 70 Ga. 293 (1883); Crittenden Bros. v. Coleman & Co., 74 Ga. 331 (1884) (decided under former Ga. L. 1880-81, p. 174).
Annexed schedules are not part of the contract. Birdseye v. Underhill, 82 Ga. 142, 7 S.E. 863, 14 Am. St. R. 142, 2 L.R.A. 99 (1888) (decided under former Ga. L. 1880-81, p. 174).
- It is essential to rights of creditors that schedule of property assigned be made out specifically, so that it may be seen if assignment covers property sold by them, and whether, by reason of fraud in debtor, they can claim title thereto. Crittenden Bros. v. Coleman & Co., 70 Ga. 293 (1883) (decided under former Ga. L. 1880-81, p. 174).
- It is not essential to validity of deed of assignment that values should be affixed to items of property included in inventory and schedule thereto attached. Anthony v. Price & Maas, 92 Ga. 170, 17 S.E. 1024 (1893) (decided under former Ga. L. 1880-81, p. 174).
- See Wood & Lovingood v. Haynes, Henson & Co., 92 Ga. 180, 18 S.E. 47 (1893) (decided under former Ga. L. 1880-81, p. 174).
- When one who made a voluntary assignment for the benefit of creditors omitted from schedule attached thereto the right of redemption which that person had in certain premises which the person conveyed for security of a debt, such omission was fatal to the assignment. McMillan v. Knapp, 76 Ga. 171, 2 Am. St. R. 29 (1886) (decided under former Ga. L. 1880-81, p. 174).
Cited in Burkhalter v. Glennville Bank, 184 Ga. 147, 190 S.E. 644 (1937).
- 6 Am. Jur. 2d, Assignments for Benefit of Creditors, §§ 4, 5.
- Imputation of agent's knowledge to bankrupt or to creditor as satisfying conditions of provisions of Bankruptcy Act excepting unscheduled debts from discharge, 134 A.L.R. 185.
Bankrupt's right to object to allowance of claims, 64 A.L.R.2d 889.
No results found for Georgia Code 18-2-47.