Ives v. Sanguinetti

Citations

• 10 Ariz. 83
• 85 P. 480
• 1906 Ariz. LEXIS 103

Syllabus

<p>1. Assignments for Benefit of Creditors — Contracts •— Trusts— Agreement to Pay Debts. — A contract whereby defendant agreed to sell a crop grown upon his wife’s land to plaintiff who agreed to apply the proceeds to the payment of certain debts of defendant and his wife, created a trust of such proceeds for the benefit of the creditors, but no vested interest therein, and does not constitute an assignment for the benefit.of creditors.</p> <p>2. Same — Same—Same—Alteration.—Where defendant agreed to sell certain crops to plaintiff who was to apply the proceeds to the payment of certain debts of defendant and his wife, no vested right was conferred upon the creditors and the agreement at any time could have been abrogated or its terms changed to the extent of eliminating from its provisions payment to any of the creditors named.</p> <p>3. Same •— Same — Same • — • Assignment of Bights under a Trust Agreement — Inoperative.—Where a debtor sold his erop and the purchaser agreed to apply the proceeds to the payment of debtor’s creditors, they not being parties to the agreement, the creditors’ assignment of whatever rights they had under such trust agreement to the debtor, conferred no right of action upon the debtor.</p> <p>4. Husband and Wife — Wife’s Property — Sale by Husband — Action —Must Be Brought Jointly. — Where a husband sells a crop from lands belonging to his wife and the purchaser agrees to apply the proceeds to liquidate certain obligations of the husband and wife, the purchaser’s liability for failure so to apply the proceeds is upon an action for an accounting brought by the husband and wife jointly but not by the husband individually;</p> <p>5. Set-oie and Counterclaim — Joist Debt — Not a Set-oie to Individual Debt. — A joint indebtedness cannot be pleaded as a set-off or counterclaim by one of two joint creditors in a suit brought by the debtor against the former alone upon his individual debt.</p>