The assignment shall vest in the trustee or trustees therein named, all the property and estate of the petitioner at the time of executing the same, real and personal, legal and equitable, and of every nature and description, as well as rights, whether real or personal, credits and things in action, as property in possession.

Code 1852, § ?2703; Code 1915, § ?4627; Code 1935, § ?5085; 10 Del. C. 1953, § ?7322;

Terms Used In Delaware Code Title 10 Sec. 7322

  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Trustee: A person or institution holding and administering property in trust.
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