Mellon v. Shenango Nat. Gas Co.

Citations

• 157 Pa. 627
• 27 A. 793
• 1893 Pa. LEXIS 1464

Syllabus

<p>Corporations — Mortgages■—Lien—Sheriffs return — Purchaser's receipt— Exceptions — Act of April 20, 1846.</p> <p>Under the act of April 20, 1846, P. L. 412, relating to the sheriff’s return,where the execution creditor purchases the property and franchises of a corporation, a creditor, whose debt is a judgment subsequent in date to the mortgage upon which the execution proceedings were conducted, has no standing to except to the sheriff’s return.</p> <p>It seems that if the mortgage was invalid and collusive, the property of the defendant in the execution is not divested by the sale as against bona fide creditors ; if valid, that the petitioner cannot attack the incorporation of the company nor the creation of the mortgage indebtedness.</p>