Morgan v. Overman Silver Mining Co.

Citations

• 37 Cal. 534
• 1869 Cal. LEXIS 93

Syllabus

<p>Agreement with Debtor to Pay his Creditors.—If one corporation sues another to recover possession of its real estate, and it is then agreed between the two that the plaintiff may take judgment for possession of the property, and that in consideration therefor the plaintiff shall pay the defendant's debts, and the judgment is taken, the transaction gives each creditor of the defendant a right of action against the plaintiff to recover his demand, without an assignment of the contract to the creditor.</p> <p>Statute of Frauds.—If A. transfers property to B., and B. as a consideration agrees to pay a debt or debts of A., the creditor or creditors of A. who hold such demand or demands have a cause of action against B. without an assignment of the contract. Such contract need not be under seal.</p>