Westinghouse Electric & Mfg. Co. v. Brooklyn Rapid Transit Co.

(after stating the facts as above). This appeal suggests points as to which this court has expressed opinion at length and laid down some legal principles. It is now urged that these principles, as applied below, produce what appellant calls a “grossly inequitable result.” Some propositions underlying this or any similar matter may be briefly restated. They have been discussed sufficiently in the cases to be cited.

A receiver appointed in a creditors’ suit, who finds himself in possession of a leasehold estate, does not by possession become assignee of the term; he may become an assignee…