Frank v. Kurtz

Citations

• 4 Pa. Super. 233
• 1897 Pa. Super. LEXIS 112

Syllabus

<p>Trusts and trustees — Buie as to property impressed with, a trust.</p> <p>If any property in its original state and form is covered with a trust in favor of a principal, no change of that state and form can divest it of such trust or give agents or trustees converting it or those who represent them in right, not being purchasers for value without notice, any more valid claim in respect to it than they respectively had before such change.</p> <p>A deposit in bank does not change the property in trust funds deposited by a trustee.</p> <p>Banks and banking — Attachment execution — Trust fund.</p> <p>The true ownership of a fund deposited in bank may be proved to be in another than the person in whose name the deposit is made, and such deposit does not change the property in a trust fund deposited by a trustee. Such deposit is not applicable to the payment of his debts to a general creditor, and a creditor who attaches the debt due from the bank to him can be in no better condition than the depositor.</p> <p>The bank deposit of an agent of an insurance company standing in his individual name, having been attached for a debt due by the agent individually, the agent induced the drawers of a check given in payment of money due to the insurance company to stop payment thereon after it had been deposited and after the attachment had been served. Held, That the bank as garnishee was not liable for the amount of this check which it had never received and which did not belong to the defendant even if the check had been honored.</p> <p>Banks and banking — Attachment execution — Disclaimer of interest.</p> <p>Where a deposit standing in the name of a defendant is attached, neither he nor the bank can defeat the attachment by setting up title in a third person who disclaims ownership.</p> <p>Execution — Exemption when forfeited — Denial of title.</p> <p>If a debtor equivocates and dissembles, denies ownership of that which he cannot hide, and embarrasses the officer of the law