First National Bank v. Rountree

Section 551G of the Civil Code reads as follows: “As a general rule, the action on a contract, whether express or implied, *119or whether by parol or under seal, or of record, must be brought in the name of the party in whom the legal interest in such contract is vested, and against the party who made it in person or by agent.” The rule here stated is strictly applied in cases of actions at law; -but where a debtor conveys property to another, and as a part of the transaction the purchaser agrees to assume and pay the debts of the vendor, a creditor of the vendor has a remedy in equity, and with…