Paine v. Monongahela National Bank

Citations

• 194 Pa. 403
• 45 A. 312
• 1900 Pa. LEXIS 402

Syllabus

<p>Estoppel — Estoppel in pais — Duty to speak.</p> <p>He who will not speak when ho ought to speak will not be heard when equity demands that he shall keep silent.</p> <p>Assignment for creditors — Payment—Estoppel.</p> <p>An assignee under a recorded assignment who has paid money justly owing one oí the creditors may not recover it back when he has put it out of his power to restore the creditor to his original situation.</p> <p>A person embarrassed financially assigned to an attorney for a bank certain book accounts to secure the payment of a number of his customer’s notes, indorsed by him when he was in good financial condition, and which the bank had discounted. This assignment was not recorded. Subsequently the assignor made a general assignment for creditors, which assignment was recorded. The general assignee permitted the assignee for the bank, who was his attorney, to collect the accounts and pay over to the blink an amount sufficient to cover the notes held by it, lift the notes from the bank and deliver them and the balance of the money to the general assignee, who soon after filed his account in which he charged himself with the assigned book accounts, and took credit for the sum paid the bank. This account was duly confirmed, and no appeal was taken from the decree of confirmation. Held, that the general assignee, five years after, could not recover from the bank the money which he had permitted it to receive from the special assignee.</p>