Fidelity & Deposit Co. v. Helwig

Citations

• 113 Kan. 174
• 213 P. 666
• 1923 Kan. LEXIS 358

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>Suretyship — Priority in Payment — Subrogation — Marshaling of Assets — Homestead. A building contractor secured the surety on his bond by an assignment of the money to become due by virtue of the building contract, and by a mortgage on his homestead. The contractor’s partner in the building contract sued the contractor for an accounting, obtained judgment, and by garnishment procured a sum of money due on the contract to be paid into court. The surety paid judgments rendered against itself, and the,partners in favor of subcontractors. The partner contested with the surety for the fund paid into court. The contractor asserted his homestead privilege. Held, the surety was entitled to be paid first, and the partner; was not entitled to a marshaling of the surety’s securities, or to subrogation to the surety’s mortgage security.</p>