Tennessee § 47-13-115 - General assignments — Preference of creditors.
Full text of Tennessee Tennessee Code Annotated § 47-13-115 — General assignments — Preference of creditors., with citation guidance and answers to common questions.
§ 47-13-115. General assignments — Preference of creditors.
Preference of creditors in general assignments of all a debtor's property for the benefit of creditors shall be illegal and voidable, and all general assignments shall operate for the benefit of all the debtor's creditors pro rata, whether all the creditors are named in the assignment or not. The insertion of a clause in the assignment giving a preference shall not render the assignment itself invalid, but the clause only shall be nugatory, and all the debtor's creditors shall share ratably in property assigned. Acts 1881, ch. 121, § 1; Shan., § 3527a1; mod. Code 1932, § 7787; T.C.A. (orig. ed.), § 47-1515. Textbooks. Tennessee Jurisprudence, 3 Tenn. Juris., Assignments for the Benefit of Creditors, §§ 3, 14; 13 Tenn. Juris., Fraudulent and Voluntary Conveyances, § 26; 22 Tenn. Juris., Stare Decisis, § 5.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 47-13-115
What does Tennessee Code Annotated § 47-13-115 cover?
Section 47-13-115 ("General assignments — Preference of creditors.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 47-13-115?
A common citation format is "Tennessee Code Annotated § 47-13-115" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 47-13-115 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.