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This entry was published on 2014-09-22
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Consent of purchaser or assignee of debt
Debtor & Creditor (DCD) CHAPTER 12, ARTICLE 3
§ 58. Consent of purchaser or assignee of debt. Where a consenting
creditor is the purchaser or assignee of a debt against the petitioner,
or the executor, administrator, trustee, or receiver of such a purchaser
or assignee, he is deemed, for all the purposes of this article, except
as to the declaration and receipt of dividends, a creditor only to the
amount, actually and in good faith paid for the debt, by him, or by the
decedent or other person, from whom he derives title, and remaining
uncollected. This section is not affected by the recovery of a judgment
for the debt, after the purchase or assignment; but in that case, the
consenting creditor may include the uncollected costs, as if they were
part of the sum paid for the debt.