Pickering v. Roeder

Citations

• 104 Wash. 539
• 177 P. 321

Syllabus

<p>Evidence (158) — Pabol to Vary Writing — Receipt. A receipt or release is not a contract or evidence of a contract and may be explained or contradicted by parol evidence.</p> <p>Assignments fob Benefit of Cbeditors (30) — Sectored Claim— Release — Effect Upon Collateral. Where an assignment for the benefit of creditors provided that it was in full settlement of claims and that an acceptance of benefits would constitute a full release, collateral security held by a creditor is not released by the creditor’s receipt stating that it was given in consideration of sharing in the proceeds pro rata with other creditors, and granting a complete release of all indebtedness. •</p> <p>Same (30). A lawful priority, established by pledging collateral at the time a loan was made, is not waived or released by accepting dividends from a subsequent assignee for the benefit of creditors, in the absence of acts showing a clear intention to do so.</p> <p>Same (30). Where a secured creditor accepted dividends on his entire claim at the request of the owner of the collateral, and creditors had knowledge thereof and took no steps to protect their rights, it was to the advantage of the owner of the collateral, who cannot assert that the collateral was thereby released.</p>