Commercial Bank & Trust Co. v. Joiner
Mississippi Supreme Court
Appeal from the chancery court of Hinds county. Hon O. B. Taylor, Chancellor. Suit hy J. C. Joiner against the Commercial Bank & Trust Company and others. From an order overruling a demurrer to the bill, defendants appeal.
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Appeal from the chancery court of Hinds county. Hon O. B. Taylor, Chancellor. Suit hy J. C. Joiner against the Commercial Bank & Trust Company and others. From an order overruling a demurrer to the bill, defendants appeal. Appellee filed a hill in chancery against the appellants Commercial Bank & Trust Company and First National Bank of Laurel and George Butler, alleging that prior to July 31, 1913, the Jackson Loan &' Trust Company had been adjudicated a bankrupt, and that all the assets of said company had been sold by the trustee and purchased in the name of the New Orleans Real Estate,…
1Opinion of the CourtSykes, J.
The court below was correct in overruling the demurrer to the bill. The demurrer only states one ground, viz.; ‘ ‘ There is no equity on the face of the bill. ’ ’ The contract entered into between the appellee Joiner and McPherson on its face is not usurious. Duval v. Neal, 70 Miss. 288, 12 So. 145. The bill does not allege, and neither is it to be inferred from it, that the appellants were innocent purchasers for value of these securities. The bill expressly alleges that J. R. McPherson transferred to these appellants his remaining equity in said asssets. This was after the transfer to…
2Cases cited1 opinion
- Duval v. NealMississippi Supreme Court · 1892
3Cited by1 opinion
- Chandler v. CookeMississippi Supreme Court · 1931