Jordan v. Securities Credit Corp.

McQUADE, Justice.

This is an action for declaratory judgment, brought by N. A. Jordan as assignee for benefit or creditors, to determine who the creditors are and what preference, if any, they may have.

Motor Center of Pocatello, Inc., a corporation, operated as an automobile agency in Pocatello, Idaho. In 1952, the corporation was sold for $33,500 to Motor Center of Pocatello, Incorporated, a corporation. There were claims against the vendor in excess of $90,000, with appellant Dr. J. M. Hatch presenting a claim exceeding the sum of $55,000, and appellant Securities Credit Corporation being…