Hutzler Bros. v. Phillips

Citations

• 26 S.C. 136
• 1 S.E. 502
• 1887 S.C. LEXIS 19

Syllabus

<p>1. Findings of fact by the Circuit Judge, based upon testimony taken in open court, affirmed.</p> <p>2. In action by creditors against the representatives of a party deceased and against other creditors, one of the defendant-creditors may testify to conversations bad by him with the decedent.</p> <p>3. Statements made by two partners to creditors of the firm, claiming as partnership assets certain real estate standing in the name of the third partner, are not admissible in evidence against an individual creditor by mortgage of such third partner.</p> <p>4. The doctrine of equitable mortgage springing from a deposit of title deeds, considered. But a deposit of title deeds for the single purpose of enabling the attorney of the lender to preparo a legal mortgage in accordance with an agreement to that effect, does not raise an equitable mortgage.</p> <p>5. The money having been advanced under such an agreement, but the execution of the mortgage prevented by the sudden death of the borrower, can the creditor demand specific performance of the agreement (i. e., the execution of a mortgage) by the heirs at law of the debtor?</p> <p>6. Partnership creditors, after exhausting partnership assets, are entitled to share the separate property of the partners, pro rata, with unsecured individual creditors.</p> <p>Only result concurred in.</p>