J. Pollock & Co. v. Okolona Savings Institution

Citations

• 61 Miss. 293

Syllabus

<p>1. Chancery. Jurisdiction. Multiplicity of suits</p> <p>A preferred creditor who is the depository of the trustee in an assignment attacked by unpreferred creditors, who garnish the deposit, can maintain a bill in equity, to prevent a multiplicity of suits, and have determined his right to apply the fund exclusively to his debts.</p> <p>2. Same. Parties.</p> <p>In such case it is unnecessary to make all the grantor’s creditors parties to the bill, but the plaintiffs in the attachment, and the assignee, who is trustee for all the creditors, is enough.</p> <p>3. Set-off. Money deposited with preferred creditor.</p> <p>If the assignment is declared void, money so deposited before the depository or assignee is garnished can be applied to the debt which the assignor owed the depository.</p>