Whitteker v. Charleston Gas Co.

Citations

• 16 W. Va. 717
• 1880 W. Va. LEXIS 49

Syllabus

<p>1.It is well settled, that where a chose-in-action, such as a bond, note, or accepted order on a third person, is transferred and delivered to A . a creditor .as collateral security for a debt, it is the right of the debtor to sue upon such chose-in-action at law, and, if necessary, to use the name of the legal owner of such chose-in-action.</p> <p>2. Unless a power to sell is superadded to the agreement, whereby such chose-in-action is pledged as a collateral security, the creditor has no right to sell such chose-in-action, and he cannot come into a court of equity to ask the sale thereof.</p> <p>3. City-script or orders are choses-in-action, which, if pledged as collat-lateral security, must be collected by the creditor, if not returned by him, and cannot be sold by him, or by a chancery court at his instance.</p>