Seaboard Surety Co. v. Massachusetts Bonding & Insurance

Order, entered on September 26,1962, denying a motion for temporary injunction in an action for declaratory judgment with respect to plaintiff’s claim against payments to be made under a construction contract, unanimously affirmed, with $20 costs and disbursements to defendants-respondents. Under section 70 of the Lien Law a trust is created only when certain described moneys come into the hands of an owner or contractor. The owner city does not hold any moneys received in any of the ways specified in subdivision 5. The contractor, on the other hand, has not yet received the money in suit.…