Imperial Metal Finishing Co. v. Luminous Ceilings West, Inc.

Third party claimant L. J. Segil Co. appeals from an “Order Determining Status, Title and Right to Possession of Money Deposited with the Sheriff” adverse to it and in favor of respondent Imperial Metal Finishing Co.

The primary question presented for our consideration is this: Under the circumstances presented in the instant case, should the money in dispute be regarded as cash placed under attachment “in lieu of merchandise” previously attached, or must such cash, as a matter of law, be treated as a “cash bond” regardless of the contrary intention of the parties?

We have concluded that, under…