By the Court.
I adhere to the opinion expressed at special term in relation to that clause of -the assignment which provides for the payment by the assignee of the just and reasonable expenses, costs, and charges, and commissions of executing and carrying into effect the assignment, and all reasonable and proper charges for attorney and counsel fees respecting the same. I deem it proper to say, in addition, that the case of Dunham v. Waterman, 17 N. Y. Rep. 9, was not published when that opinion was written, and that I consider this distinguishable from that case. The assignees of Waterman were authorized to pay any such sum or sums of money, as they might find proper and expedient, in and about the management of the assigned estate, or payment of the hands employed, or to be employed in or about the same, or in the business of completing the manufacture of any of the said property, or fitting the same for sale, or of working up materials, &c., so as to realize' the greatest possible amount of money therefrom, as in the judgment of the said assignees" should seem most advisable, and it was said of that provision, that it vested in the assignees a discretionary power, the exercise of
In this case no rule of law was contravened. Ho application for leave to pay expenses would be necessary. The amounts disbursed by the assignee in that respect would be matters of accounting, and therefore, when the assignors directed the assignee to pay such expenses and charges, they merely declared a right incidental to assignments settled and established by precedent, practice and authority. This position does not, therefore, " overlook the distinction between a duty imposed by law, and a power conferred by an individual.”
I do not agree either to the proposition that the clause in the assignment which relates to schedule “ A.,” makes the assignment void. I think the objectionable language," debts to grow due” used therein, must be understood to mean claims that have matured, and resting either on notes, bonds, or other obligations, or upon credits which had not expired, and which were easily and readily capable of being ascertained. In other words it is a direction to pay Child and ¡Fullerton their claims against
I agree with Judge Beady, that there is nothing in this assignment that would warrant us in declaring it fraudulent and void. There is nothing in the "provisions relied upon as having that effect, that would bring them within the reasons laid down by the Court of Appeals for their judgment in Nicholson v. Leavitt^ and Dunham v. Waterman.
Hilton, J., dissented, •
Judginent a~1rn.ied.
