358 DORSEY v. CAMPBELL.

paying out of a designated fund, to be placed in the hands, and at
the disposal of Campbell & Ritchie; but he was to warrant, that,
with due and proper diligence on their part in endeavouring to
make it available, it would be ultimately productive to the whole
amount of the purchase money. It does not appear, that Campbell
& Ritchie are chargeable with any want of diligence in endeavour-
ing to collect the money due on the choses in action transferred to
them.(a)

It would seem, from the expressions of the contract, that Dorsey
was to be allowed a reasonable time to assign, and deliver to
Campbell & Ritchie, or their agent, choses in action, out of which
they were to collect the amount stipulated to be paid to them ;
but that time has elapsed; and indeed, Dorsey, by bringing this
suit has virtually waived the privilege of referring the defendants
for payment to any choses in action in addition to those he had
already transferred to them.

This case, then, stands thus :—Dorsey must be charged with
the sum of fourteen hundred and sixty-two dollars and fifty cents,
with interest from the eighth day of June, eighteen hundred and
fifteen; first deducting therefrom the amount of the mcumbrances
on the land; that is, the judgment against Anderson, the former
owner, and also the taxes due when Dorsey got possession. Dorsey
is then to he credited with the sums actually received by Campbell
& Ritchie from the choses in action transferred to them. And,
since the object of this mode of payment was merely to prevent
Dorsey from being called on until Campbell & Ritchie had used
every proper exertion to make the specific funds available, Dorsey
is only to be accredited with the net proceeds of the choses in
action received by Campbell & Ritchie, or their attorney, after
allowing every legal discount or set off, and expense of collection
on each one. No expense or charge, however, is to be allowed
for paying over any money so received, from the attorney of Camp-
bell & Ritchie to them. But the credit is to be given to Dorsey as
a payment on the day on which such proceeds were received, either
by Campbell & Ritchie, or their attorney. If any of the debtors
chargeable by the choses in action assigned by Dorsey, have been
ascertained to be wholly or partially insolvent, he must be charged
to that amount. .

With these explanations and determinations as to the principles

(a) Boyer v. Turner, 3 H. & J. 285.