Fagan & Osgood v. Boyle Ice Machine Co.

Citations

• 65 Tex. 324
• 1886 Tex. LEXIS 661

Syllabus

<p>1. Receiver—Insolvent corporation—Claim—Creditor may contest, when— When, in a suit by creditors’ bill against an insolvent corporation, the property of the company has, by decree of court, been placed in the hands of a receiver, to be converted into money and distributed amongst the creditors, every creditor whose claim has been recognized or established by any of the modes pointed out by the decree, becomes a quasi party, and may appear and resist before the master the allowance of any claim of a rank or dignity equal to or greater than his own. If not satisfied with the action of the master, he may, by leave as of course, except to that officer’s report, and have his objections to the obnoxious claim passed upon by the court.</p> <p>2. Same—Contested claim—Suit—Right of appeal—Every claim presented against a fund in the hands of a receiver, if contested before the court, becomes, in effect, a suit against the receiver, which is ended by a final judgment allowing or rejecting the claim ; and any party to the contest, dissatisfied with the result, may have the proceedings revised on appeal.</p> <p>3. Mechanic’s Liens—Corporations—A corporation may, under the law, acquire a lien for machinery, material, fixtures, etc., furnished, the same as an individual.</p> <p>4. Same—Receiver—A creditor who, at the time of the appointment of a receiver, has a lien, under the statute, for materials, machinery, etc., furnished, may record his contract, and thus fix and secure his lien, after the receiver has been appointed. The recording of the contract after the appointment does not newly encumber the property, but simply fixes and secures upon it an already existing lien.</p> <p>6. Same—Material, etc., sold and delivered beyond the state—The statute gives one a lien on land in the state for the price of materials to be used in the erection of an improvement on the land, notwithstanding the sale and delivery of such materials may have taken place beyond the limits of the state