Assignment fob Benefit of Creditors—Rights of Assignee—Transfer in Fraud of Creditors.—An assignment for the benefit of creditors does not pass to the assignee any greater or other rights than those possessed by the debtor; and the assignee has no power or right to maintain an action to recover property previously transferred by the debtor in fraud of his creditors.

Id.—Unverified Chattel Mortgage—Good Faith—Validity against Elected -Assignee.—An unverified chattel mortgage, made in good faith, and not intended to be fraudulent as to creditors, and which was valid as between the parties, and as to all others except creditors of the mortgagor and subsequent purchasers and encumbrancers of the property in good faith and for value, is valid as against an assignee elected by the creditors, after a voluntary assignment for the benefit of creditors made by the mortgagor to the sheriff.

Id.—Amendment of Code—Assignment to Sheriff—Election of Assignee—Constructive Fraud as to Creditors.—The amendment of section 3449 of the Civil Code in 1899, so as to require that voluntary assignments for the benefit of creditors, shall be made in the first instance to the sheriff, and that after the election of an assignee by the creditors, the sheriff shall assign to the elected assignee the property assigned to him, does not affect or alter the rule that the assignee has no authority to sue to set aside an unverified chattel mortgage made in good faith, and which operates only as a constructive fraud against creditors by force of the statute.

'Id.—Construction of Codb-^-Fraud as to Creditors—“Devolving” of Estate in Trust—Operation of Law.—Section 3439 of the Civil Code, which makes every transfer, etc., made “with intent to delay any creditor,” void as to all creditors of the debtor, “and against any person upon whom the estate devolves in trust for the benefit of others than the debtor,” only applies to an estate so devolving by operation of law upon an assignee in insolvency, without any voluntary act of the owner; and does not apply where a voluntary assignment is made for the benefit of creditors.