Page:United States Reports, Volume 2.djvu/71

 Pbiladelpbk Coun- or Comron Pans. 6; I their powers are limited: As for inifance, they cannot pledge. 17go. the goods of their principal for their own debts. 2 Stn;. 1 178. 71% And fuchgreat injultice would be the refult of the oppolitc doélrinei in the cafe of bankruptcy, that the court will not, , without abfolute necellity fullain it. Ou the adpqinr, it was faid, that the doctrine of extinguilh- ment was irrelevant; for, it could not be doubted that if a bond was taken in difcharge of a precedent debt, no fuit could afterwards be maintained on the original limple contract; and the onl queltion is, whether the propertyof thc can be l'nDicientIy diltinguilhed, from the property of bankrupt, to entitle  on the benefit of a lien upon his own goods. If itcan belb dilkin iihcd, evenmoneyfhallbcdc- livened to him. 1 4:}. 172. V gilowever, there is no claim made by Prke, when the whole money wasreceivcd before Prllm-d’.r bankruptcy; but if a fa&or having fold goods of his principal on uedit, either by way of book debt, or for notes, afterwards becomes bankrupt, and his allignoes receive the. price of the goods, or the amount of the notes, it lhall be for the ul`e of the principal. t Sak. 160. 1 Vez. 363. There is no reafon to dif- criminane between the cafe of credit  generally, or upon _ a note; and credit given upon .a bond. In numerous inltances there may exili: {ucla a lien upon ¢·¢: iu aiibn, as willcon- ' flitute the receiver of them a mere trultec. 1 Vez. 363. 1 Atl. 234. 2 7::. $86. 674. And fuch thingsas a bankrupt holds as truftee will not pal`s"und§r--the  1 TZ Rep. 6tg. The principal has a controuliiyi; power oifrggihg debts due upon _ the contract of his faftor §`__}>f.·all. N P•rl.3C. `·_· >·  as long _as ` the debts are not paid, thcyfmay be tracpd,`·5gii§irig;ti£l1ed, and afcertained in favour of his licn._ Thus, ·w}ic1§zi1’at`.¥Q§i· took an obligation in his own name ¥Dl.’ the price  ceirnunea to him to fell, and afterwards died, the tranfaiihiian?  traced to its fource, and the claim of the conliituenr,-·who¥'owned the; goods, was preferred to the claim of the abli_g;e.";r@;ninJ}r¤tor. 2. Li Kaim. P .E. 19. 2. Wrn. 638. rg Fin.; 1..4tb. 245. 248. In the cafe of M*Carty, furviving partner of Cumming: wrifur Nixon, the liime point was adjudged an the Supreme court a ter · ‘ - tonliderable difculiion and deliberation! The principle as to - ‘ I the ~ ` * In the cal`: ol'M*C.`m·te, furvivin artner versus Mem, it a ared ' ‘ that the plaintiii`sn:l his plaiirtner wergiirercliauts eilablilhed in 5"I:`;llC¢§ //4 - that having lbld ronhrlerable quantities of wine to various perfons. in-/L6 cl this country, Cummings, the dcccafcd partner, came hither to collect the debts; and accordingly obtained promiliory notes in his own .· name for many of them; that before the notes became due, Ctmmingr died, and Nixon, the deleudsnt, took out letters of sdimnillrstion upon his eliare, by virtue of which he received and recovered the mone

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