Citizens' Bank v. Studebaker Bros. Mfg. Co.
U.S. Court of Appeals for the Second Circuit
Citizens' Bank v. Studebaker Bros. Mfg. Co., 71 Miss. 544 (2d Cir. 1893)
Cooper
Citizens' Bank v. Studebaker Bros. Mfg. Co.
Opinion of the Court
delivered the opinion of the court.
The xnghts of the parties to this suit ax’e governed by § 4234, code 1892 (§ 1300, code 1880), under which the property in controversy was, as to the creditors of Purnell & Grider, the property’ of that firm. The facts of this ease do not distinguish it, ixx principle, from that of Shannon v. Blum, 60 Miss., 828.
The judgment is reversed and cause remanded.
Reference
- Full Case Name
- Citizens' Bank of Winona v. Studebaker Bros. Mfg. Co.
- Status
- 65 Miss.
- Syllabus
- Property used in Trade. Liability to debts. Code 1892, 14234. Under § 4234, code 1892, making liable to the debts of a trader who transacts business in his own name all property “ used or acquired in his business,” where wagons are placed in the custody of a merchant and kept in a lot adjoining his store, to be sold as a part of his stock, they are subject to his debts, though sold on commission for a manufacturer who reserves the legal title as security for the price. Shannon v. Blum, 60 Miss., 828.