New Castle County National Bank v. Taylor

Citations

• 8 Del. Ch. 456

Syllabus

<p>Whero orders on a railroad company for the payment of the price of merchandise delivered to it, together with its certificates issued to the seller of the merchandise showing what was received and the price to be paid, are deposited with a bank as collateral security for the promissory notes of the person to whom the money is due from such railroad company, and for the general balance of his indebtedness; and vouchers for several of the sums due, but not all of them, were issued by the railroad company to the maker ot the notes and orders in his lifetime, and by him delivered to the bank; no notice of the assignment of the debt having been given by the bank to the railroad company during the lifetime of the maker of the notes and orders: held, that the transaction constituted an equitable assignment to the bank of the debt due from the railroad company, including both that represented by vouchers and that for which none had been received, and that after the death of the maker of the notes such assignment would be enforced by requiring the administrators to assign the vouchers to the bank, and the railroad company to pay the same, and also to pay to the bank the balance of the indebtedness to the decedent for which no vouchers had been issued.</p>