Seaboard Fin. Co. v. Fed. Leasing Co.

FOX, J.*

In September 1964, plaintiff-appellant Seaboard Finance Company brought this action against Federal Leasing Company, defendant-respondent, to recover an alleged indebtedness of some $120,000. Plaintiff filed a declaration for attachment in which it stated that defendant’s indebtedness had been originally secured, but then asserted that “said security has without any act of plaintiff become valueless and no other security exists.” The clerk issued a writ of attachment directed against all of defendant’s assets not exempt from execution, and pursuant thereto levy was made. In due course…