Novor v. Fourth St. Bargain Store Co.

The Chancellor.

It is admitted that the receiver and the purchasers in their negotiations dealt with each other on the assumption that the property which was being sold was unburdened by liens. The fact is that the receiver did not know of the levies upon which the liens were based. Neither of course did the purchaser. The price therefore which the receiver received was a price which assumes the payment of the claimants’ liens, for if the existence of these liens and their continuing adherence to the property had been known, the price received would have been reduced pro tanto. This being so,…