Assigned Estate of T. S. McKesson & Co.

Citations

• 142 Pa. 538
• 21 A. 994
• 1891 Pa. LEXIS 773

Syllabus

<p>(a) An assignee for creditors sold goods of tbe assigned estate for $576, taking unsecured judgment notes therefor from the purchaser, who owned real estate for which he had paid $600. On a sale of the real estate on the notes, the assignee became the purchaser for the sum of $340:</p> <p>1. An assignee for the benefit of creditors who sells personalty of the assigned estate, reduced to his possession, on credit and without taking personal security therefor, does so at his own risk, and is not entitled to credit for a loss resulting therefrom.</p> <p>2. Moreover, the assignee purchasing the real estate upon which the credit was given, if it was worth the amount of the debt, he was secure from loss; if not, it was his own negligence to give the credit. In either event, he must account for the value of the goods sold.</p>