National Bank v. Heard
National Bank v. Heard
Opinion of the Court
A fund was in the hands of. receivers appointed by the ■court of chancery under a decree made by Judge Pottle ■on the law and facts of the case. The fund was raised
In respect to interest a decree has the same force that a judgment does when it contests with other liens or-claims for money, Code, §§4217, 4215 ; but this refers to* a decree in personam, binding upon all the property of' the debtor, and rendered against the defendant thereto,, without reference to specific property to be sold thereunder, and the fund to be divided according to the-same decree. The very same decree which gives the: bank part of this fund, raised from, this chancery sale and. held by the receivers, also gives other parts thereof to-other parties. If the claim of one party under the decree - is entitled to interest, so is the claim of every other party-thereto; and if all have interest, it is evident that there will not be money enough to pay all, principal and interest. The decree not only provided that the land be sold,, but it directed how the proceeds should be applied. It says that so much money shall be paid to each in gross-interest on no claim is mentioned. Therefore it would, seem that none was intended. If, before the sale, the-plantation was rented, and there be such a fund also in-, the receivers’ hands, that, of course, after paying expenses,, will be divided in proportion to the part which each party gets in the division of the fund raised from the sale of the plantation, unless it has gone to taxes, or other ex
Judgment affirmed.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.