Owensboro Banking Co. v. Buck
Owensboro Banking Co. v. Buck
Opinion of the Court
The facts above stated appear without dispute, most of them being derived from answers to interrogatories propounded and crossed by tbe parties hereto. The cause was tried by the court without a jury.
Except for the character of the action, there is very little to differentiate this case, from the case of Hood v. Commercial Germania Trust & Savings Bank, 12 Ala. App. 511, 67 South. 721. This case was affirmed by the Supreme Court on application for certiorari. Flere the case is even stronger, for under our statute, a claimant may prevail upon an equitable title. It has been uniformly beld that:
“When the consignor draws. upon the consignee for the purchase money, and the draft, the bill of lading attached, is indorsed or transferred to some one who discounts the bill of exchange, a special property in the goods thereby passes to the transferee, subject to be divested by the acceptance and payment of the draft; but, if the consignee refuses to accept, the title of such transferee becomes absolute.” Hood et al. v. Com. Germania T. & S. Bank, supra; American National Bank v. Henderson, 123 Ala. 614, 26 South. 498, 82 Am. St. Rep. 147; Tishomingo Savings Bank v. Johnson, 40 South. 503; 1 Cosmos Co. v. First *347 Nat. Bank, 171 Ala. 395, 54 South. 621, 32 L. R. A. (N. S.) 1173, Ann. Cas. 1913B, 42; Veitch v. Atkins Grocery & Com. Co., 5 Ala. App. 454, 59 South. 746.
Under the authority of the cases cited supra, the judgment of the lower court must be reversed, and judgment here rendered for the claimant.
Reversed and rendered.
Reported In full In the Southern Reporter; reported as a memorandum decision without opinion in 146 Ala. 691.
Reference
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- Owensboro Banking Co. v. Buck.
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