Zaami v. Joseph Denunzio Fruit Co.

Opinion op the Court by

Judge Sampson

Bevers-' ing.

Money in the hands of an agent or trustee which is paid by him in satisfaction of a past due obligation of the agent or another, and received by the creditor with full knowledge of the true ownership of the money and that it was not the property of the agent who paid it, and the further knowledge that the agent as well as the debtor was insolvent, may in an equitable proceeding be recovered by the rightful owner if the rights of third parties have not intervened. This is an equitable rule and principle of law recognized by text writers and…