Section 18-2-25. Effect of misrepresentation, suppression of material fact, or private agreement giving preference upon settlement between debtor and creditor

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If a debtor misrepresents or suppresses any material fact in the statement of his affairs either as to the amount of his property or of his indebtedness, the composition shall be void. If a debtor privately agrees to give a creditor better security or to pay a creditor more than other creditors, the contract with the others shall be void.

Civil Code 1895, § 2692; Civil Code 1910, § 3221; Code 1933, § 28-107.

                    
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