King v. Wooldridge

Oct 15, 1900
Versions:78 Miss. 179
Whitfield, C. J.,

delivered the opinion of the court.

There is no assignment of the debt by any valid act of the corporation.shown. The corporation was plainly insolvent, not a going concern,-nor one with any prospect of going on at any time in the future. It could not in such condition prefer its director, secretary and treasurer. Love M'f'g. Co. v. Queen City M'f'g. Co., 74 Miss., 290.

Reversed and remanded.