Rinaker v. Dollar Savings Fund & Trust Co.

Citations

• 219 Pa. 523
• 69 A. 43
• 1908 Pa. LEXIS 615

Syllabus

<p>Equity — Subrogation—Pledge of collateral — Fraud—Payment—Executors and administrators — Insolvent estate.</p> <p>An administrator is not entitled to retain bonds wrongfully pledged by the decedent, until he is paid the amount he has expended in payment of the decedent’s note for which the bonds were a collateral security. In such a case, the payment of the note gives no right to subrogation. Royal Arcanum v. Cornelius, 198 Pa. 46, followed.</p> <p>The fact that the person really entitled to the bonds knew where the bonds were and that they had been wrongfully pledged, before the administrator paid the note and redeemed the bonds, does not estop such person from asserting his right to the bonds.</p> <p>Equity — Jurisdiction—Remedy at law — Practice, C. P.</p> <p>Objection to jurisdiction in equity because of an adequate remedy at law, comes too late, if it is not made until after the findings of fact and law have been filed, and a decree nisi has been entered.</p>