An assignment for the benefit of creditors is void against any creditor of the assignor not assenting thereto, in the following cases: 1. If it tend to coerce any creditor to release or compromise his demand. 2. If it provide for the payment of any claim known to the assignor to be false or fraudulent; or for the payment of more upon any claim than is known to be justly due from the assignor. 3. If it reserve any interest in the assigned property, or in any part thereof, to the assignor, or for his benefit, before all his existing debts are paid, other than property exempt by law from execution. 4. If it confer upon the assignee any power which, if exercised, might prevent or delay the immediate conversion of the assigned property to the purposes of the trust. 5. If it exempt him from liability for neglect of duty or misconduct.
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