Hanna v. Holton
Supreme Court of Pennsylvania
Error to the Court of Common of Pleas Chester county: Of January Term 1872, No. 250. This was an action on the case, brought October 6th 1870, by Alexander Holton against William Hanna, to recover damages for negligence, in not reviving and continuing the lien of a judgment against Jackson A. Holton, in favor of the plaintiff, which had been assigned to the defendant as collateral security for money borrowed by the plaintiff from him.
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Error to the Court of Common of Pleas Chester county: Of January Term 1872, No. 250. This was an action on the case, brought October 6th 1870, by Alexander Holton against William Hanna, to recover damages for negligence, in not reviving and continuing the lien of a judgment against Jackson A. Holton, in favor of the plaintiff, which had been assigned to the defendant as collateral security for money borrowed by the plaintiff from him. The defendant pleaded “ Not Guilty” and the Statute of Limitations. On the 19th of March 1858, Jackson A. Holton executed to the plaintiff a bond with warrant…
1Opinion of the CourtJustice Agnbw
The cases cited for the plaintiff in error are chiefly those of sureties where the indulgence of the creditor was purely permissive, and the surety was therefore held not to be discharged. A creditor who holds a collateral security for the protection of his debt stands in a different relation to the assignor of the collateral, though the latter be his debtor. By the assignment a privity in contract is established, which invests the assignee with the ownership of the collateral, for all purposes of dominion over the debt assigned. He alone is empowered to receive the money to be paid upon it,…
2Cases cited3 opinions
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- In re Dyott's EstateSupreme Court of Pennsylvania · 1841
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- Scott v. First National Bank of TulsaCourt Of Appeals Of Indian Territory · 1904
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