Ames Iron Works v. Kalamazoo Pulley Co.
Supreme Court of Arkansas
Appeal from Pulaski Circuit Court. Robert J. Lea, Judge. This was an action of replevin brought by the Kalamazoo Pulley Company against the Ames Iron Works for the possession of a lot of pulleys which had been sold by the Kalamazoo Pulley Company to Thomas W. Baird, and by him sold to the Ames Iron Works.
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Appeal from Pulaski Circuit Court. Robert J. Lea, Judge. This was an action of replevin brought by the Kalamazoo Pulley Company against the Ames Iron Works for the possession of a lot of pulleys which had been sold by the Kalamazoo Pulley Company to Thomas W. Baird, and by him sold to the Ames Iron Works. The evidence shows that in May, 1891, Thomas W. Baird bought of the Kalamazoo Pulley Company, through their agent C. S. Kelsey, a lot of pulleys, which were shipped to Memphis, Tenn. Baird in payment gave his acceptances maturing January 1, 1892. Being largely indebted to the Ames Iron…
1Opinion of the CourtWood, J.
1. The satisfaction of a pre-existing debt as a consideration for the transfer of goods fraudulently obtained will not of itself constitute the bona fide transferee an innocent purchaser for value, as against the one from whom they were obtained by fraud. Eaton v. Davidson, 46 Ohio St. 355; 1 Beach, Mod. Eq. Jur. sec. 391, note; Sleeper v. Davis, 64 N. H. 59; Henderson v. Gibbs, 39 Kas. 679.
The reason of the rule, says Chancellor Walworth, is “that a purchaser of the legal title, who receives his conveyance merely in consideration of a prior indebtedness, is not entitled to protection,…
2Cases cited13 opinions
- Coddington v. BayCourt for the Trial of Impeachments and Correction of Errors · 1822
- Weaver v. . BardenNew York Court of Appeals · 1872
- Root v. FrenchNew York Supreme Court · 1835
- Comstock v. . HierNew York Court of Appeals · 1878
- McBride v. . the Farmers' BankNew York Court of Appeals · 1863
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3Cited by3 opinions
- Hamilton v. RankinSupreme Court of Arkansas · 1913
- Triplett v. Rugby Distilling Co.Supreme Court of Arkansas · 1899
- Pape v. StewardSupreme Court of Arkansas · 1901