Morgan & Co. v. Cooper
Morgan & Co. v. Cooper
Opinion of the Court
delivered the opinion of the Court.
On the 1st of July, 1857, the plaintiffs recovered seven different judgments against Wood and Hart, before
“Mr. E. B. PRICE,
“ Sir: — You will enter my name as stay of executions on five judgments that Morgan & Co. obtained before you, on the 1st day of July, against Wood & Hart, for some eight or nine hundred dollars, and costs of suits. This 3d day of July, 1857.
“J. L. COOPER, [seal.]”
On the day following the date of said paper, 4th of July, Cooper took from Wood, one of the firm of Wood & Hart, a conveyance for land and negroes, in the nature of a mortgage. The conveyance is made to Cooper himself, with a power of sale, and an unlimited discretion to dispose of the property, publicly or privately, on such terms, and at such time, as he may think best to meet the payment of the debts and judgments therein specified, for which Cooper had become liable as surety and stay or for Wood & Hart, or one of them. And among other debts specified, is the following : “ also, one judgment in favor of Morgan & Co., of Nashville, Tennessee, given 1st day of July, 1857, for $1468.00, judgment against Wood & Hart, and stayed by said J. L. Cooper.”
Before entering the name of Cooper as stayor, the foregoing paper was altered, so as to insert the word seven instead of five, and by adding the words, “ or more,” before the word dollars. The proof is not suffi
After the expiration of the stay, executions were issued on the several judgments; and thereupon, Cooper applied, by certiorari, to have them brought up into the Circuit Court to be quashed, on the ground that, by force of the foregoing paper, he was not legally bound as stayor.
The Circuit Judge held that he was not bound, and quashed the executions; and the plaintiffs appealed in error.
The legal effect of the deed of the 4th of July out of view, the judgment would be unquestionably correct. The paper upon which the justice acted, is, in its original form, insufficient to have authorized the justice to enter the name of Cooper as stayor; and even if sufficient as altered, it could not be regarded as binding on Cooper, upon the proof in the record, it not appearing that the alterations were with his knowledge, or by his authority.
But the fact of his taking the deed, on the day after his name had been entered as stayor, wholly changes the complexion of the case in our view.
He is a party to the deed. It was made to him, as well for his own indemnity, as for the security of the debts; and he is, by implication, constituted a trustee for the creditors. By the recitals of the deed he is estopped to deny his liability as stayor, for the fact is expressly recited in the deed. True, the description of the several judgments is not specific. The amounts are aggregated, and for the gross sum, as one judgment, in favor of Morgan & Co., against Wood & Hart, obtained
The judgment will be reversed, and the petition and supersedeas dismissed. And under the Code, §§ 3137,. 3138, judgment will be rendered here in favor of the plaintiffs, as therein provided.
Reference
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- Morgan & Co. v. J. L. Cooper
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