Hudson v. Belzoni Equipment Co.

On April 28,1941, appellant Hudson borrowed from the Citizens Bank & Trust Company of Belzoni, Mississippi, ■ $779.17. He executed two notes therefor payable on demand, or if there be no demand, on January 28, 1942. He pledged to the Bank, as collateral security for said notes, thirty-one shares of stock in appellee, Belzoni Equipment Company, a corporation, domiciled at Bel-zoni. After maturity of the notes the Bank transferred and delivered them, with the stock, to the Equipment Company. The Equipment Company claims to be the absolute legal owner of the stock. Hudson contends the Company is…