White v. Adler

The judgment obtained against the grantee of the moving defendant is not an adjudication of which the latter may avail himself. There is no privity between a predecessor in interest, as such, and his successor in interest, which makes a judgment against the latter binding on the former and, conversely, a judgment against the successor may not be taken advantage of by the predecessor. (See 1 Freeman Judgments, § 442.) Moreover, it does not appear that the adjudication that the grantee of the moving defendant was the stockholder of record at the time the bank closed was necessarily material to…