Judgment created by garnishment.

- Lien obtained by service of summons of garnishment issued on an existing judgment is created by the garnishment, and not by the judgment. Armour Packing Co. v. Wynn, 119 Ga. 683, 46 S.E. 865 (1904).

Homestead exemption for partners.

- Right of a partner to a homestead exemption out of the property of the partner's firm is a chose in action; and the assignment of such chose in action by the partner, before the institution of a collateral proceeding or a garnishment, passes to the assignee the property in the chose in action assigned, free from the lien of a general judgment previously rendered against the assignor. Citizens Bank & Trust Co. v. Pendergrass Banking Co., 164 Ga. 302, 138 S.E. 223 (1927).

Stock in corporation is chose in action so in the absence of a statute the stock would not be subject to levy or sale. Owens v. Atlanta Trust & Banking Co., 122 Ga. 521, 50 S.E. 379 (1905).

Lien of a judgment against one holding stock is inferior to an existing lien arising by virtue of a by-law, even though the plaintiff in a writ of fieri facias had no notice thereof at the time the plaintiff made the loan, secured the judgment, or gave notice to the corporation. Owens v. Atlanta Trust & Banking Co., 122 Ga. 521, 50 S.E. 379 (1905).

Assignment of chose in action by debtor before institution of collateral proceeding or garnishment passes to the assignee the property of the debtor in the chose in action assigned, freed from the lien of a general judgment previously rendered against the assignor. Fidelity & Deposit Co. v. Exchange Bank, 100 Ga. 619, 28 S.E. 393 (1897).

Claim of the assignee of a judgment is subject to such equities and defenses as may have existed in favor of the judgment debtor against the judgment creditor at the time of the assignment, but is not subject to rights which did not then exist in favor of such judgment debtor and of which the judgment debtor did not become possessed until some time later as by the subsequent purchase of judgments against the judgment creditor. Accordingly, a judgment which is held by an assignee is not subject to a set-off in favor of judgments existing against the assignor, but not acquired by the judgment debtor until after the assignment of the former judgment. Sheffield v. Preacher, 175 Ga. 719, 165 S.E. 742 (1932).

Cited in In re Erwin, 8 F. Cas. 779 (S.D. Ga. 1870) (No. 4,524); Kilgore v. Buice, 229 Ga. 445, 192 S.E.2d 256 (1972).

Am. Jur. 2d.

- 46 Am. Jur. 2d, Judgments, § 354.

C.J.S.

- 49 C.J.S., Judgments, §§ 764, 766, 781, 782, 831.