H. & T. C. R'y Co. v. Bremond
Texas Supreme Court
Appeal from Harris. Tried below before the Hon. James Masterson. About March, 1857, the Houston & Texas Central Railway Company, desiring to extend its road, contracted with parties to do the work, and agreed to pay them in ‘‘stock notes.” The “stock notes” contemplated in the agreement were notes given by subscribers to stock in the company, and were in the usual form of promissory notes.
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Appeal from Harris. Tried below before the Hon. James Masterson. About March, 1857, the Houston & Texas Central Railway Company, desiring to extend its road, contracted with parties to do the work, and agreed to pay them in ‘‘stock notes.” The “stock notes” contemplated in the agreement were notes given by subscribers to stock in the company, and were in the usual form of promissory notes. Simultaneously with their execution the company delivered to the subscribers “conditional certificates of stock,” which were in two forms, as follows: First:— HOUSTON AND TEXAS CENTRAL RAILWAY COMPANY. $-…
1Opinion of the Court
Robeetson; Associate Justice.
“A Hen in general may be defined to be a right of retaining property until a debt due to the person retaining it has been satisfied; and as the rule of law is that in a sale of goods where nothing is specified as to delivery or payment, the *163vendor has the right to retain the goods until payment of the price, he has in all cases, at least, alien, unless he has waived it.” Benjamin on Sales, sec. 796. In the sale of its stock on credit, the Houston and Texas Central Bailway Company gave to the purchasers merely an obligation to deliver the shares on the payment of…
2Cases cited4 opinions
- White, Smith & Baldwin v. DownsTexas Supreme Court · 1874
- Moore v. RaymondTexas Supreme Court · 1855
- Murray v. AbleTexas Supreme Court · 1857
- Watt v. White, Smith & BaldwinTexas Supreme Court · 1870
3Cited by3 opinions
- Brown v. ForeCourt of Appeals of Texas · 1927
- Sanders v. DunnCourt of Appeals of Texas · 1913
- Ward v. San Antonio Life Ins. Co.Court of Appeals of Texas · 1914