Wike v. Board of Trustees

In equity a present assignment of money having a potential existence but not yet due will operate on the fund as soon as it is acquired. Hence the remuneration plaintiff was to receive for the construction of the school annex was assignable. The fact the money was not then due only operated to postpone the liability of the debtor until the contingency happened and the money became payable. Godwin v. Bank, 145 N. C., 320, 328; Trust Co. v. Construction Co., 191 N. C., 664, 132 S. E., 804; Bank v. Jackson, 214 N. C., 582, 200 S. E., 444; 4 A. J., 239, 240. Restatement of the Law, Contracts,…