Delaware Trust Co. v. Elder & Co.

Citations

• 12 Del. Ch. 263
• 112 A. 370
• 1920 Del. Ch. LEXIS 13

Syllabus

<p>Failure of conditional vendors to allege compliance with Uniform Sales Act, as to recording contracts is no reason for denying their request- to be allowed to take action against receiver of the vendee to enforce their legal rights, where no liens of creditors had attached; the sales being valid against creditors other than those protected by the statute and against the vendee and the receiver.</p> <p>A receiver cannot assert in behalf of general creditors a claim which the 'corporation could not have asserted in a contest between it and special creditors claiming an equitable lien on assets of the corporation.</p> <p>Because a receiver is not yet in possession of property sold by conditional vendors is no reason for not permitting such creditors to obtain their rights from those in possession of the property.</p>