Runals v. Harding

Citations

• 83 Ill. 75

Syllabus

<p>1. Collateral security—whether holder of is liable for loss. Where an obligation on a third party is placed in the hands of a creditor by a debtor, as collateral security for the debt, and such third person is of doubtful solvency, and absent from the State a great while, and, when called on, claims that the obligation has been altered, and the debtor assents to a delay in proceeding against him, and the claim on such third party becomes lost, the creditor will not be guilty of such negligence, in respect to the security, as to make the loss his own.</p> <p>8. Receiver—when proper to appoint. Where a creditor’s bill charges that the debtor has choses in action, etc., in his possession, and asks for a discovery, and the debtor suffers the bill to be taken as confessed, it is not error to enjoin the debtor from disposing of his property, and to appoint a receiver to take charge of the same.</p>