Caskie v. Webster
U.S. Circuit Court for the District of Eastern Pennsylvania
Martiu. of Virginia, made an assignment, valid by the laws of that state, of all his. property to Caskie. of that same state, for tlie benefit of such of his creditors as should assent to certain terms set forth in it, and which are not allowed by the laws of Pennsylvania. Several creditors, chiefly of Virginia, assented.
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Martiu. of Virginia, made an assignment, valid by the laws of that state, of all his. property to Caskie. of that same state, for tlie benefit of such of his creditors as should assent to certain terms set forth in it, and which are not allowed by the laws of Pennsylvania. Several creditors, chiefly of Virginia, assented. One item of his property was a debt due by a resident of Pennsylvania: and before Caskie could get tlie money from this debtor, Webster, a Pennsylvania creditor, who had refused his assent. attached it for a debt, which was due to him. Assuming such an assignment as Martin…
1Opinion of the Court
GRIER, Circuit Justice.
A debt is a mere incorporeal right. It has no situs, and follows the person of the creditor. A voluntary assignment of it by the creditor, which is valid by the law of his domicil, whether such assignment be called legal or equitable, will operate as a transfer of the debt, which should be regarded in all places.
In America, bankrupt or involuntary assignments by operation of law, have not been considered as subject to this rule. But I know of no other established exception to the genera] rule, that a transfer of personal property, valid by the law of the owner’s…
2Cited by6 opinions
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- Askew v. La Cygne Exchange BankSupreme Court of Missouri · 1884
- In re Paige & Sexsmith Lumber Co.Supreme Court of Minnesota · 1883
- National Fire Insurance v. ChambersNew Jersey Court of Chancery · 1895
- Union Savings Bank & Trust Co. v. Indianapolis Lounge Co.Indiana Court of Appeals · 1897
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