J. R. Clausen & Son v. Bellevue Building & Loan Ass'n

Citations

• 7 Pa. Super. 217
• 1898 Pa. Super. LEXIS 271

Syllabus

<p>Execution — Equity—Election of funds.</p> <p>A creditor who has security on two funds is compelled to take his satisfaction out of a particular one of them in favor of a creditor who has security exclusively on the other.</p> <p>Execution — Liens—Equity of junior incumbrances.</p> <p>A judgment creditor who has seized the goods of his debtor in execution cannot, after sale on jfi. fa., discharge the proceeds and leave his judgment in force as to the land, to the prejudice of judgment creditors who otherwise would be paid out of the land.</p> <p>Liens — Equity of junior incumbrances.</p> <p>A creditor may not, with a fund awaiting him in part payment of a first lien, deliberately resign it to a later lien, and thereby deprive an intermediate lien of the benefit of a pro tanto release of land, against which he has also a prior lien; such action violates the equity of junioi incumbrances.</p>