Dodds v. Pratt
Mississippi Supreme Court
Dodds v. Pratt, 64 Miss. 123 (Miss. 1886)
Campbell
Dodds v. Pratt
Opinion of the Court
delivered the opinion of the court.
The goods were Kiser’s, undoubtedly, but the deed of trust he gave to secure the purchase-money for them was coetaneous with his acquisition of title, and therefore he held them subject to the deed of trust, which was paramount to any other claim.
Section 1300 of the Code of 1880 does not derange the order of priority among the creditors of the person transacting business. The property made liable for his debts is to be subjected in the order of precedence fixed by law independently of § 1300.
As the condition of the deed of trust had been broten at the time of the trial it was right to maintain the claim, although it was made prematurely. Helm v. Gray, 59 Miss. 54.
Affirmed.
Reference
- Full Case Name
- Geo. S. Dodds v. F. B. Pratt, Trustee
- Cited By
- 9 cases
- Status
- Published
- Syllabus
- 1. Liens. Judgment prior. Deedof trust to secure purchase-money. Priority thereof. A deed of trust on a stock of goods, given by the purchaser thereof, at the time of his purchase, to secure the payment of the purchase-money, is a claim paramount to an older judgment against such purchaser. 2. Same. Priority of creditors. Section 1300, Code of 1880, applied. Section 1300, Code of 1880, which provides that if any person shall transact business in his own name exclusively, “ all the property, stock, money, and choses in action, used and acquired in such business, shall, as to the creditors of any such person, be liable for his debts and be, in all respects, treated in favor of his creditors as liis property,” does not, as to the property, money, etc., so made liable, change the order of priority between creditors, otherwise fixed by law. 3. Tbtjst-Deed. Claimants issue. Claim before condition broleen. Trial after condition broken. On the trial of a claimant’s issue, it is proper for the court to sustain the claim of a trustee in a deed of trust, the conditions of which at the interposition, of such claim were unbroken, if, at the time of trial, the conditions have been broken.