Caldwell & Co. v. Cherry

SPARKS, Circuit Judge (after stating the facts as above).

The primary question in cause No. 4216 is whether or not the trustee in bankruptcy can recover from Caldwell & Co. for money unexpended or misapplied, which was derived from the sale of the hotel company’s bonds under the contract between appellant and the hotel company. In deciding this question it is well to remember that, if the trustee in bankruptcy recovers in this action, he must do so on the strength of his own title, and not on the weakness of his adversary’s title. In comparative terms it is quite easy to determine the title of…