Wagner v. the Phillips Co.

In August, 1928, Moore Pipe and Sprinkler Company entered into contract with Michael Schlossberg to install an automatic sprinkler system in a building belonging to the latter. The lot on which the building stood also belonged to Schlossberg who agreed to pay a rental of ninety dollars per month for forty-eight months for the lease of the sprinkler system. This contract was- assigned to appellee, The Phillips Company, but Mrs. Ida F. Vail had prior to its execution, acquired a mortgage on the house and lot.

In May, 1930, Schlossberg was adjudicated a bankrupt and the trustee in bankruptcy,…