The Reporter Volume 37

The Reporter Volume 37

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1904 edition. Excerpt: ...states, and decisions possible in one state may be contrary to the laws of other states. Ve have the services of a legal reporter, and will endeavor to answer any questions of law for our subscribers free of charge, if they cover points involved in the monument business. Assignment oi' Future Wages and Discharge in Bankruptcy. The supreme court of Illinois says (Mallin vs. Venham, 70 Northeastern Reporter, 564) that the authorities are ample and conclusive to the effect that an assignment of wages to be earned in the future, under an existing employment, is valid. This precise question has frequently been passed upon by the courts of the different states and of England, and, so far as this court is advised, the courts of last resort have, without exception, upheld such contracts, where they have been for 21 valuable consideration and untaintcd with fraud. The authorities are to the effect that it is not necessary that there be an express hiring for a. definite time, but the existence of the employment at the time of the assignment is sutlicient. Nor does the court consider such an assignment against public policy. It says that it cannot scc that there is anything intrinsically vicious in an assignment of wages. The assignor in such case simply draws upon his future prospects to supply present needs, which may be of the most urgent and pressing character. There is no law in this state to prevent a person from mortgaging or pledging any or every article of property he possesses as security for his debts, and such a privilege may be of great value. A person has the same right to assign his wages that he has to mortgage his homestead or to mortgage personal property that is exempt from execution. The statute provides liberal exemptions, ...
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Product details

  • Paperback | 170 pages
  • 189 x 246 x 9mm | 313g
  • United States
  • English
  • black & white illustrations
  • 1236765230
  • 9781236765239