Loval v. Wolf
Supreme Court of Alabama
Appeal from Perry Circuit Court. Heard before Hon. B. M. Miller. Action by Otto Wolf against the Planters’ & Merchants’ Bank, in which W. S. Loval, as trustee in bankruptcy of Knight, Yancey & Co., was made a party defendant. From the judgment, the trustee appeals.
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Appeal from Perry Circuit Court. Heard before Hon. B. M. Miller. Action by Otto Wolf against the Planters’ & Merchants’ Bank, in which W. S. Loval, as trustee in bankruptcy of Knight, Yancey & Co., was made a party defendant. From the judgment, the trustee appeals. The bank answered, disclaiming any interest in the money sued for, deposited the same in court, and suggested W. S. Loval, as trustee of the estate of Knight, Yancey & Co., bankrupts, as a claimant of the money, setting up that he was not a party to the plea, and that he claimed the money without collusion. Said Loval was made a…
1Opinion of the CourtAnderson, J.
“After the formation of the contract of sale, the question of its effect arises as to- when the bargain amounts to an actual sale or when it is a mere executory agreement. The distinction between the two contracts consists in this: That in a bargain and sale the thing which is the subject of the contract becomes the property of the buyer the moment the contract is concluded and without regard to the fact whether the goods be delivered to the buyer or remain in possession of the seller; whereas, in an executory agreement, the goods remain the property of the seller till the contract is…
2Cases cited4 opinions
- Shealy v. EdwardsSupreme Court of Alabama · 1882
- Western Ry. v. HartSupreme Court of Alabama · 1909
- Wheeler v. ClevelandSupreme Court of Alabama · 1910
- Francis--Chenoweth Hardware Co. v. GraySupreme Court of Alabama · 1893
3Cited by17 opinions
- American Automobile Insurance Co. v. EnglishSupreme Court of Alabama · 1957
- Long v. AddixSupreme Court of Alabama · 1913
- Vardaman v. Florence City Bd. of Educ.Supreme Court of Alabama · 1989
- Benton Mercantile Co. v. Owensboro Wagon Co.Supreme Court of Alabama · 1921
- People's Bank & Trust Co. v. WalthallSupreme Court of Alabama · 1917
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