First N. Bank v. Ladd

Citations

• 126 Pa. 188
• 17 A. 750
• 1889 Pa. LEXIS 855

Syllabus

<p>1. Where there is a fair and honest consideration for the assignment of a judgment, it is not necessary to set out in the assignment the purpose to which the proceeds are to be devoted by the assignee, and a subsequent attaching creditor of the assignor is bound by the assignment, to the same extent as the assignor.</p> <p>2. A statement in the answers of a garnishee, who is also the assignee of the judgment, in such case, that the assignment was made to him as collateral security for a note, if uncontradicted by other evidence, will be taken, as true.</p> <p>3. The original assignment to the garnishee, in such case, having recited that it was made subject to a previous assignment of $500 of the judgment to one L., a third person, the effect of the two assignments was to make the garnishee a trustee for L. to the extent of $500, before he could ■ derive any benefit from the assignment himself.</p> <p>T. The assignment to L. having been put in evidence, set up in the garnishee’s answers, and in a petition by L. praying that she be made a party defendant on the record, the facts concerning it could be tried on the answers of the garnishee, without a separate.issue.</p>