BRILEY v. MADRID IMPROVEMENT COMPANY

No. 51021.

122 N.W.2d 824 (1963)

Duane E. BRILEY and Margaret M. Briley, Plaintiffs, v. MADRID IMPROVEMENT COMPANY, Polk City Savings Bank, William J. Kendall, and Edward L. Spellman, Defendants.

Supreme Court of Iowa.

July 16, 1963.


Attorney(s) appearing for the Case

Wilson, Maley & Stamatelos, West Des Moines, for Polk City Savings Bank, appellant.

Mahoney, Jordan, Statton & Smith, Boone, for plaintiffs-appellees.

James W. Newell, Creston, for William J. Kendall, appellee.

Edward L. Spellman, appellee per se.


LARSON, Justice.

The only issue before us in this appeal is whether the trial court erred in granting lien priority to judgment creditors who caused garnishment to be levied against moneys or credits due the debtor on a real estate contract, which contract had been assigned and deposited as collateral security for payment of debtor's note to the appellant bank.

I. As a general rule, an attachment or garnishment is effective only to the extent of the debtor...

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