W. C. MacNutt & Company's Assigned Estate

Citations

• 49 Pa. Super. 435
• 1912 Pa. Super. LEXIS 348

Syllabus

<p>Assignment for benefit of creditors — Individual assets — Special assignment.</p> <p>Where two partners execute an assignment for the benefit of creditors, and a question arises as to whether the assignment covers individual as well as partnership assets, and thereafter it appears that one of the partners individually owned the proceeds of a policy of insurance not as yet paid by the insurance company, and the assignee and the individual partner agree that the proceeds should be paid to the partner’s attorney and divided by him in certain proportions between the assignee and the partner, and the attorney after collecting the insurance money, sends the part agreed upon to the assignee in a letter which indicates that the fund is to be applied by the assignee to the partner’s individual creditors, such letter is to be construed as a special assignment of the fund in question for the individual creditors, however the general assignment may be construed.</p>