Smith v. Equitable Trust Co.

Citations

• 215 Pa. 418
• 64 A. 594
• 1906 Pa. LEXIS 813

Syllabus

<p>Bailment — Lien—Pledge of goods.</p> <p>Where an owner of goods agrees in consideration of advances, to give to a bank a lien on the goods which at the time are in the hands of a factor or agent of the owner, such a lien is valid and enforceable as against the general creditors of the owner, or his assignee for the benefit of creditors.</p> <p>A voluntary assignee for creditors is not a bona fide purchaser for value; he is the mere representative of the debtor, enjoying his rights only, and is bound where he would be bound; nor are the creditors for whom he holds the property in trust, purchasers for value.</p>