Ringen Stove Co. v. Bowers
Supreme Court of Iowa
Appeal from Lee District Court. — How. IIeNRy BaNK, Jr., Judge. ActioN on account, in which the petition was filed, and the writ of attachment levied on the goods of the defendant, May 1, 1897. Four days later he made a general assignment for the benefit of his creditors to John P. Homish.
Read the full summary
Appeal from Lee District Court. — How. IIeNRy BaNK, Jr., Judge. ActioN on account, in which the petition was filed, and the writ of attachment levied on the goods of the defendant, May 1, 1897. Four days later he made a general assignment for the benefit of his creditors to John P. Homish. The latte filed a petition of intervention, October 13, 189'i, in wbicb be alleged the wrongful suing out of the writ of attachment, the assignment, and asked judgment for damages on the attachment bond against the plaintiff and its bondsmen. On the 30th day of the same month the defendant answered,…
1Opinion of the CourtLadd, J.
The assignee for the benefit of creditors is not only a trustee for them, but for the assignor as well, who retains a contingent interest in the estate. The balance remaining after the satisfaction of debts and expenses of administration belongs to the assignor. His interest may be likened to that of the mortgagor of personal property. He is interested, then, in the minimum allowance being made on claims filed, and in the maximum amount being received on debts due and for goods sold. The interest of the assignee, as the trustee of both debtor and creditor-, to this extent is identical with…
2Cases cited15 opinions
- Freeman v. . AuldNew York Court of Appeals · 1870
- State v. LeeSupreme Court of Iowa · 1890
- Meyer v. EvansSupreme Court of Iowa · 1885
- Williams v. Niagara Fire Ins.Supreme Court of Iowa · 1879
- Perry v. VezinaSupreme Court of Iowa · 1884
10 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Bamforth v. IhmsenWyoming Supreme Court · 1922
- McCain v. City of Des MoinesSupreme Court of Iowa · 1905
- Bank of Commerce v. TimbrellSupreme Court of Iowa · 1900
- Webb v. PattersonNebraska Supreme Court · 1926
- Orcutt v. WoodardSupreme Court of Iowa · 1907
1 more not listed; retrieve them via the Exa API.