Rucks v. Taylor
Mississippi Supreme Court
Appeal from the chancery court of Hinds county, first district. Hon. E. W. Cabaniss, Chancellor. The opinion of the case contains a sufficient statement of the case. 1. Insisted, that if the deeds in trust to indemnify the sureties, were a security which attached itself to the debt and became a trust for the payment of the debt itself, and which vested in the complainant an unconditional right to directly enforce the trusts for the satisfaction of their claim, that right is…
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Appeal from the chancery court of Hinds county, first district. Hon. E. W. Cabaniss, Chancellor. The opinion of the case contains a sufficient statement of the case. 1. Insisted, that if the deeds in trust to indemnify the sureties, were a security which attached itself to the debt and became a trust for the payment of the debt itself, and which vested in the complainant an unconditional right to directly enforce the trusts for the satisfaction of their claim, that right is barred by limitation. And this construction is apparent, from, the fact that these instruments declare that the property…
1Opinion of the CourtSimrall, J.
In 1836, Rucks, Gibbs, and Owen conveyed in trust to Ewing and Meigs a large number of slaves, and two tracts of land. This trust was created to secure Walton, Jacob S. Yerger, Trabue, Onilesiss Nany, Ridley Overton, Lewis Taylor, Edmund Rucks and O. B. Hubbard, sureties for the grantors on sundry bonds, in installments given to Robert Taylor for slaves sold by him to James Rucks, Gibbs and Owens, and amounting in the aggregate to $71,161.00.
The grantors in addition to the stipulation to indemnify and save harmless their sureties, constituted by another clause of the deed, the property with…
2Cases cited1 opinion
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