Simmons v. Phelps
Simmons v. Phelps
Opinion of the Court
OPINION by
The objection to the judgment below is this: the appellant, the debtor, had made an assignment for creditors. This passed his entire estate except such as was exempt from execution. These creditors, appellees, declined to accept the provisions of the assignment for creditors generally and saw proper to look to the homestead alone for the payment of their debts. If they did not decline they must have received their pro rata portion of the estate that was sold and
The judgment is therefore reversed and cause remanded with directions to ascertain what the pro rata would have been of these creditors in the fund arising from the sale of the unexempted property; and deducting that sum from the debts of the appellees, the balance remaining will be satisfied by the sale of the homestead.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.