Colquhoun's Trustee v. Diack [1901] ScotLR 39_249 (12 December 1901)

Colquhoun's Trustee v. Diack [1901] ScotLR 39_249 (12 December 1901)

Defenders are entitled to retain the bond and disposition in security until all debts owed by Colquhoun's estate to them are paid; the obligation to assign is not unconditional and is subject to the doctrine of retention.

Citation
[1901] ScotLR 39_249
Parties
Pursuer: John Wilson, Chartered Accountant in Glasgow, trustee upon the sequestrated estates of the firm of J. & D. T. Colquhoun, writers in Glasgow, and of the individual members thereof; Defenders: James Diack and his wife
Jurisdiction
Scotland
Judgment Date
12 December 1901
Procedural Posture
Civil Action / Appeal (reclaiming Note) From Lord Ordinary's Interlocutor
Outcome
action dismissed; reclaiming-note refused; judgment for defenders
Legal Topics
Right in Security, Retention, Balancing of Accounts, Obligation to Assign Bond, Bankruptcy, Assignment of Security
Property Law Bankruptcy Law Security Rights Right in Security Retention Balancing of Accounts Obligation to Assign Bond Bankruptcy +1 more

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Parties

John Wilson, Chartered Accountant in Glasgow, trustee upon the sequestrated estates of the firm of J. & D. T. Colquhoun, writers in Glasgow, and of the individual members thereof

Pursuer

James Diack and his wife

Defenders

Procedural Posture

Civil Action / Appeal (reclaiming Note) From Lord Ordinary's Interlocutor

Legal Issues

  1. 1 Whether defenders are bound to assign and dispone a bond and disposition in security to the trustee of Colquhoun's sequestrated estate despite sums owed by Colquhoun to defenders
  2. 2 Whether the doctrine of retention applies to a bond and disposition in security after payment of the sum secured

Ratio Decidendi

Defenders are entitled to retain the bond and disposition in security until all debts owed by Colquhoun's estate to them are paid; the obligation to assign is not unconditional and is subject to the doctrine of retention.

Court Disposition

action dismissed; reclaiming-note refused; judgment for defenders

Orders

  • Finds pursuer liable in expenses
  • Dismisses the action