Croyle v. Guelich

Citations

• 35 Pa. Super. 356
• 1908 Pa. Super. LEXIS 42

Syllabus

<p>Equitable assignment — Draft—Parties.</p> <p>A draft drawn by a creditor upon his debtor, in favor of a third person, whether accepted or not, does not make such third person a part owner of the creditor’s claim, either in law or equity. It is not even in equity a partial assignment of the claim, unless it be drawn upon a particular fund in the debtor’s hands, or unless the draft designates the claim out of which payment is to be made.</p> <p>Where an order by a creditor on a debtor amounts to an equitable assignment to a third person, the assignee in suing on the order must sue in the name of the assignor to his own use. He cannot sue in his own name.</p> <p>Under the Act of May 10, 1881, P. L. 17, no person can be sued as an acceptor on a bill of exchange, draft or order drawn for the payment of money exceeding $20.00, unless his acceptance shall be in writing signed by himsel for his lawful agent.</p>