to make the deed irrevocable. (Smith v. Keating, 6 Com. Bench, 136). But an assignment to a creditor, as a trustee for himself and other creditors, after being communicated to him, cannot be revoked, and requires no assent on the part of the assignee to render it irrevocable. (Siggers v. Evans, 25 L. T. 213; see also Mackinnon v. Stewart, 20 L. T. (n. s.) Ch. 49.) No. CII. ASSIGN ASSIGNMENT of the entire PERSONAL ESTATE and CREDITORS. BENEFIT OF day of BETWEEN Parties. to convey all property THIS INDENTURE, made the A. B., of &c. merchant [debtor], of the first part, C. D., of &c. and E. F. of &c. [two of the creditors of the said A. B.], of the second part, and the several other persons whose names and seals are hereunto subscribed and affixed, by themselves or their respective attornies [being also respectively creditors of the said A. B.], of the third part: WHEREAS the said A. B. is indebted to the several Agreement persons parties hereto of the second and third parts or their and assign respective partners in several sums of money, and being desirous of debtor as to provide a fund for the payment of all his debts hath agreed to and for convey and assign all his real and personal estate and effects his debts. whatsoever and wheresoever to the said C. D. and E. F., upon and for the trusts, intents and purposes, and with, under and subject to the powers, provisoes, agreements and declarations hereinafter expressed and declared of and concerning the same respectively: AND WHEREAS the several persons mentioned in the first schedule hereunder written or hereunto annexed, are such of the creditors of the said A. B. as have specific liens on payment of BENEFIT OF ASSIGN- his estate and effects, and the amount of their respective debts MAITOR is set opposite to their respective names in the said schedule CREDITORS. [recite conveyance of real estate and leaseholds by A. B. to C. D. and E. F., upon trust to sell and to execute all necessary contracts and conveyances, and to stand possessed of the monies to arise from the sale upon the trusts of an indenture bearing even date therewith (meaning these very presents)]: NOW THIS INDENTURE WITNESSETH that, in pursuance and further performance of the said agreement, he the said A. B. doth Assignment by these presents assign, transfer and set over unto the said of personalty, C. D. and E. F., their executors, administrators and assigns, all realise. and singular the goods, wares, merchandize, stock in trade, debts, monies and other personal estate and effects of or belonging, due or owing to the said A. B., and not assigned by the said recited indenture [and all the right, title, &c.] To HAVE, HOLD, RECEIVE AND TAKE the said goods, wares, merchandize, stock, debts, monies and all and singular other the premises hereby assigned, or expressed and intended so to be, unto the to trustees to said C. D. and E. F., their executors, administrators and assigns, upon trust that they the said trustees, and the survivor of them, and the executors or administrators of such survivor, their or his assigns, do and shall, with all convenient speed, absolutely sell and dispose of, collect, get in, receive and convert into money the said goods, wares, merchandize, stock, debts, monies and premises hereby Trustees to assigned, or expressed and intended so to be: AND IT IS HEREBY agreed and declared between and by the parties to these presents, that the said trustees or trustee for the time being shall stand possessed of and interested in the monies which shall come to their or his hands by virtue of these presents, and the said A. B. doth hereby direct and appoint that the said trustees or trustee for the time being shall stand possessed of and interested in so much of the monies to arise by the sale or sales which shall be made by virtue of the trust for that purpose declared in the said recited indenture of the said messuages, hereditaments and premises in the same indenture comprised, and also of and in the rents, issues, profits and produce of the said messuages, hereditaments and premises in the meantime and until the same shall be sold, upon and held personal estate and produce of real estate. ASSIGN BENEFIT OF and ses, residue creditors. for the trusts, intents and purposes, and with, under and subject to the powers, provisoes, agreements and declarations hereinafter MENT FOR expressed and declared of and concerning the same, namely: CREDITors. UPON TRUST that they or he the said trustees or trustee for Το pay costs the time being do and shall, with and out of the same, in the expenfirst place, pay, satisfy and discharge all the costs, charges and expenses, attending the preparing, engrossing and executing of these presents, and in the next place retain and deduct thereout, and reimburse themselves and himself respectively, all such costs, charges and expenses, as they or any of them shall or may pay, incur, sustain or be put unto, or to which they or any of them shall or may respectively become subject. or liable in or about the execution and performance of the several trusts hereby created, or the exercise of any of the powers and authorities herein contained or in anywise relating thereto, and do and shall pay and divide the clear residue of the said and divide monies unto and among all and singular the creditors of the amongst said A. B. rateably according to the amount of their respective debts, subject nevertheless to the provisoes and covenants. hereinafter contained, and lastly pay, or cause to be paid, the residue of the said monies, rents, issues and profits and produce which shall remain after answering the several purposes aforesaid unto the said A. B., his executors, administrators and assigns, for his and their own absolute use and benefit. PROVIDED ALWAYS, Dividend and it is hereby agreed and declared, that the said trustees or one time. trustee for the time being shall not in pursuance of the trusts hereinbefore declared, pay at one time more or less than shillings in the pound on the said debts, unless a majority of creditors at a half yearly meeting, or at a meeting to be held for that purpose, shall direct the contrary, or unless less than that sum shall be sufficient to pay and satisfy so much of the said debts as shall for the time being be required to be paid under or by virtue of the trusts aforesaid. PROVIDED ALWAYS, Money to be and it is hereby agreed, &c. that all the monies which shall be bank from recovered or received by or come to the hands of the said time to time, trustees or trustee for the time being, and the trusts whereof are herein before declared, shall forthwith be paid by them or him from time to time into the banking house of Messrs. at, or such other banking house as a majority of creditors to be paid at paid into ASSIGN BENEFIT OF if necessary to be inves ted. Powers to trustees as to doubtful debts. at a half yearly meeting, or at a meeting to be held for that MENT FOR purpose, shall from time to time order or direct, and the CREDITORS. monies shall be then placed to the account of the said trustees or trustee for the time being. [Provided nevertheless that if at any time or times the said monies shall be more than sufficient to answer the current expenses and payments necessary to be defrayed, and made in pursuance of these presents, then and so often the said trustees or trustee for the time being shall lay out so much of the said monies as shall not be immediately required for the above purposes in the purchase of navy or exchequer bills, or in the public stocks of Great Britain, in order that the same may accumulate at compound interest till required for the purposes of these presents]. PROVIDED ALWAYS, and it is hereby agreed and declared, that if the said trustees or trustee for the time being, shall entertain any doubt as to the amount of any of the debts specified in the schedules hereunder written or hereunto annexed, then and in every such case it shall be lawful for them or him so entertaining such doubts, at the expense of the trust estates, monies and premises, to take and use such legal or equitable course and means as shall appear to them or him to be necessary for the purpose of ascertaining and adjusting the true amount of such debt or debts: PROVIDED ALWAYS, and it is hereby agreed and declared, that it shall be lawful for the said trustees or trustee for the time being to appear for the said A. B. in all actions and suits that have been already or may be hereafter brought or commenced against him by any of his creditors, and to put in bail for the said A. B. in any such action or suit, and to contest the debts for which such actions or suits shall be brought or commenced, and generally to defend such actions or suits, and that it shall be lawful for the said trustees or trustee for the time being out of the said trust estates, monies and premises, to pay all the costs, charges and expenses attending, or in anywise relating to such actions or suits, and also all and singular the monies (if any) that shall be recovered against the said A. B., and also to pay and satisfy the debts of such of the creditors as shall refuse to come in and execute these presents [receipts of trustees to be sufficient discharges. Power of changing trustees and clauses for their Trustees to appear for debtor. and contest debts, &c. ASSIGN MENT FOR BENEFIT OF attorney. indemnity]: And the said A. B. doth hereby irrevocably make, nominate and appoint, and in his place and stead put the said C. D. and E. F., and the survivor of them, and the CREDITORS. executors or administrators of such survivor, their or his Power of assigns, to be the true and lawful attornies and attorney of the said A. B. to ask, demand, sue for, recover, and receive of and from all and every persons and person who are, is, or shall or may be liable to pay or deliver the same respectively, the said debts and sums of money and premises hereby assigned, or expressed and intended so to be, and on payment or delivery thereof, or of any part thereof respectively, to give and execute receipts, releases and other discharges for the same respectively, and on nonpayment or nondelivery thereof, or of any part thereof respectively, to commence, carry on and prosecute any action, suit or other proceeding whatsoever for recovering and compelling the payment and delivery thereof respectively, and also to compound or compromise, or submit to arbitration, the said debts, sums of money and premises, or any of them, or any part thereof respectively, and for that purpose to enter into, give, sign, do and execute such bonds of arbitration, releases, discharges, bankrupts' certificates, acts and deeds, as they the said C. D. and E. F., or the survivor of them, or the executors or administrators of such survivor, their or his assigns, shall think necessary and proper, and also to adjust and settle all such accounts, reckonings, transactions, matters and things whatsoever relative to the premises as to them or him the said C. D. and E. F., or the survivor of them, or the executors or administrators of such survivor, their or his assigns, shall seem meet, and for all or any of the purposes aforesaid to use the name of the said A. B., if they the said C. D. and E. F., or the survivor of them, or the executors or administrators of such survivor, their or his assigns, shall think necessary, and generally to do, execute and perform any act, deed, matter or thing relative to the premises as fully to all intents and purposes whatsoever as the said A. B. might or could do in his own proper person, in case these presents had not been made, and for all or any of the purposes aforesaid to appoint any substitute or substitutes with the like powers in all respects, and him or them to remove at discretion, and to |