Day & Sharpe's Assigned Estate

Citations

• 21 Pa. Super. 118
• 1902 Pa. Super. LEXIS 318

Syllabus

<p>Equitable assignment — Equity—Contingent interests.</p> <p>An equitable assignment is an agreement in the nature of a declaration of trust which a chancellor never hesitates to execute when it has been made on a valuable or even good consideration.</p> <p>Equity will support assignments of contingent interests and expectancies, that is, things which have no present actual existence but rest in mere possibility, provided the agreements are fairly entered into and it would not be against public policy to uphold them.</p> <p>Equitable assignment — Agreement between execution creditors. — Sale by assignee iiistead of sheriff.</p> <p>Where it appears from the fair weight of the evidence that a senior execution creditor agreed with a junior execution creditor that if the latter would permit the goods taken in execution to be sold by the assignee of the defendant in the execution, instead of the sheriff, the junior creditor should be paid “ out of the moneys coming into the hands of the assignee,” which would otherwise be paid to the senior creditor, and the senior creditor subsequently assigns his judgment to a person who has full knowledge of the agreement made with the junior creditor, the assignee of the judgment takes it subject to the rights of the junior creditor under the agreement.</p>