Panama Sash & Door Co. v. United States Fidelity & Guaranty Co.

Citations

• 12 Teiss. 15
• 1914 La. App. LEXIS 105

Syllabus

<p>Syllabus.</p> <p>In a building contract the owner cannot compensate what he - owes the contractor by what the contractor owes him, to the prejudice of furnishers of materials or of the surety of the contractor; the reason is that the furnishers of materials have a preference and priority over the contractor and his creditors on the price of the contract. This price in the hands of the owner is impressed with the right of preference, priority and privilege in favor of material men.</p>