All moneys or funds received by a contractor in connection with a contract for the erection, construction, completion, alteration or repair of any building or for additions to a building and all moneys or funds received by a contractor in connection with a contract for the sale of land and the erection, construction, completion, alteration or repair of any building or addition thereon, shall be trust funds in the hands of the contractor.

38 Del. Laws, c. 169, § 1; Code 1935, § 3652; 44 Del. Laws, c. 163, § 1; 6 Del. C. 1953, § 3502.;

Terms Used In Delaware Code Title 6 Sec. 3502

  • Contract: A legal written agreement that becomes binding when signed.