Dunsmoor v. Furstenfeldt

Citations

• 88 Cal. 522
• 12 L.R.A. 508
• 26 P. 518
• 1891 Cal. LEXIS 727

Syllabus

<p>Assignment for Benefit of Creditors — Money Held by Assignee — Trust—Special Deposit — Rights of Creditors.—Money in the hands of an assignee of an insolvent debtor under an assignment for the benefit of creditors is held by the assignee in trust for the creditors, but is not a special deposit by or for them, and cannot be lawfully claimed by a creditor as his individual personal property, nor can all of the creditors jointly so claim it.</p> <p>Id. — Accounting at Suit of Creditors—Title to Money Deposited in Court. — The transfer of money from the assignee of an insolvent debtor to the custody of the clerk of the court, in obedience to an order of the court in an action by one of the creditors against the assignee to compel an accounting with the creditors, gives the creditors no more title to the money than they had while it was in the hands of the assignee, until the determination of the suit by a decree fixing the share to which each creditor is entitled.</p> <p>Attachment — Garnishment — Funds Held by Officer of Court.— When a defendant has a right to a certain distributive share of a fund in the hands of a receiver, master in chancery, or trustee of court, the officer may be effectually garnished by a creditor of the party so entitled, after the court has ordered it to be paid, and the officer has nothing more to do with the fund than to pay it over.</p> <p>Id. — Money in Custody of Clerk — Order of Distribution — Debt Due to Distributee. —Where money is in the hands of a clerk of court, deposited under an order of the court by the assignee of an insolvent pending litigation as to the proper distribution thereof among the creditors, and an order of distribution is made by the court, the sum found due each creditor is a debt due the creditor from the clerk, and may be attached in his hands by a creditor of the creditor.</p> <p>Id. — Definition of Debt. — Any kind of obligation of one man to pay money to another is a debt; the manner in which it is to be pai