Whenever a debtor of the decedent is unable to pay all his or her debts, the executor or administrator, with the approbation of the court or judge thereof, may compound with him or her and give him or her a discharge, upon receiving a fair and just dividend of his or her effects. A compromise may also be authorized when it appears to be just, and for the best interest of the estate.
History: (Code 1923, §5831; Code 1940, T. 61, §227.)