Monroe Banking & Trust Company v. Allen

OPINION OF THE COURT

READY, Chief Judge.

This case poses for decision the priority of various claims, set out briefly as follows:

I. Claims of $10,658.92 asserted by Monroe Banking & Trust Company, plaintiff, to funds in the hands of defendant, Building Service Company, paid to it as prime contractor by owners under three separate contracts, for painting and related work which in each case had been subcontracted to Rufus Ben (Jack) Allen by Building Service Company, where Allen had assigned to the Bank all proceeds payable to him under said subcontracts as security for bank loans made to provide…