Bomer-Ferguson Co. v. Shapiro
Bomer-Ferguson Co. v. Shapiro
Opinion of the Court
This suit is on a promissory note, and is accompanied by the sequestration of a lot.of logs. As the note was not
No appearance has been made in this court by defendant; so that we are not informed of the reason for which the learned trial judge dissolved the sequestration. From the questions put to plaintiff’s agent on cross-examination we would infer that the contention of. defendant must have been that defendant did not have it in his power to part with or. dispose of the logs to the prejudice of plaintiff because in addition to the privilege plaintiff had a chattel mortgage on the logs, which not only fully protected plaintiff, but did actually cause plaintiff to feel entirely secure and entertain no fear.
Plaintiff’s agent, however, testified that from former experience he had no confidence in the party to whom defendant had sold the logs. Without going into the details of the matter, the evidence satisfies us that, while perhaps the defendant was not contemplating any fraud, but was, as he thought, acting on the contrary in the interest of all parties concerned, the sequestration was fully and clearly justified under the circumstances. For one thing, plaintiff never consented that a sale of the timber should be made, and especially that the timber should be delivered, before the note in question had been paid.
The act of chattel mortgage executed contemporaneously with the note stipulated that plaintiff might sell and deliver the logs to a cex-tain party named, but that before any delivery was made the note would have to be paid, whether mature or not. Subsequently the plaintiff agreed that the defexxdant might sell to some one else, but not to deliver until the note should have been paid.
It is therefore ordered, adjudged and decreed that the judgment appealed from be set aside, and that the plea of prematurity herein be ovex-ruled, and that the writ of seques
Reference
- Full Case Name
- BOMER-FERGUSON CO. v. SHAPIRO
- Cited By
- 5 cases
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- Syllabus
- (Syllabus by Editorial Staff.) 1. Logs and logging 26(5) — Sequestration Under Code Prac. art. 275, pars. 7, 8, and Act No. 190 of 1912, plaintiff, suing on note given for money advanced to enable defendant to cut and remove logs, was entitled to sequester logs, where defendant had sold them to a buyer, who had paid a considerable part of purchase price and was bunching and floating some of the logs; plaintiff’s debt being privileged on the logs. 2. Chattel mortgages 252.r-Action on note before maturity held not prematurely commenced, where mortgagor had sold property. Where it was agreed between mortgagor and mortgagee that mortgagor could sell property, but could' not deliver the property until the note secured by mortgage should have been paid, an action on the note after the property had been sold and delivered in part was not premature, although commenced prior to date specified as maturity; the note having become payable by the sale of property mortgaged.