Hercules Ice Machine Co. ex rel. Edward P. Allis Co. v. Segal

Citations

• 185 Pa. 605
• 40 A. 89
• 1898 Pa. LEXIS 758

Syllabus

<p>Assignment — Equitable assignment — -Contract.</p> <p>S. being indebted to a corporation for two machines made or in process of making for him, and the corporation being indebted to K., gave the latter an order on S., for certain bonds, saying, “ any arrangement that you mtvko with him whereby we are not charged with more than ten thousand dollars of bonds by you, will be satisfactory to us if it is to him.” K. presented the order to S., gave Mm a copy of it, and kept the original, but S. declined to deliver the bonds on the ground that the corporation had not finished its work. He subsequently expressed in writing Ms willingness to do so if the corporation would give a guaranty to do certain specified things with respect to the machines. He, however, loaned K. one thousand dollars on his due bill. K. never received the bonds. Held, that as the minds of the parties did not meet, there was no contract, and no assignment of the bonds which took precedence of a subsequent assignment of them to another party.</p>