First Nat. Bank of Rock Springs v. Roder

Citations

• 114 F. 451
• 52 C.C.A. 253
• 1902 U.S. App. LEXIS 4110

Syllabus

<p>1. Marshaling Assets — Junior Incumbrancer — Resort to Fund not Covered by Superior Lien.</p> <p>One who has a lien upon a single fund or property may compel another, who has a superior lien upon the same fund or property and upon another fund or property, to first resort to the fund or property which is not douhly incumbered for the satisfaction of his claim.</p> <p>2. Same — Demand by a Junior Incumbrancer.</p> <p>A demand or notice by the holder of an inferior lion on one fund or property upon the holder of the superior lien thereon that he preserve and first exhaust his lien upon other funds or property covered thereby, made or given before his lien upon such funds or property is relinquished or lost, is indispensable to the enforcement of the right of the holder of an inferior lien upon property doubly incumbered to compel the holder of the superior lien to preserve or first exhaust that lien upon property covered by it alone.</p> <p>(Syllabus by the Court)</p>