Scott County Milling Co. v. Powers
Mississippi Supreme Court
Appeal from the chancery court of Hinds county. Hon. O. B. Taylor, Chancellor. Suit by Neely Powers trustee, against the Scott .County Milling Company and others. From a judgment for plaintiff, defendant appeals. The Harding-Coor Company was incorporated, with domicile at Jackson, Miss., with the capital stock of .ten thousand dollars.
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Appeal from the chancery court of Hinds county. Hon. O. B. Taylor, Chancellor. Suit by Neely Powers trustee, against the Scott .County Milling Company and others. From a judgment for plaintiff, defendant appeals. The Harding-Coor Company was incorporated, with domicile at Jackson, Miss., with the capital stock of .ten thousand dollars. Coor, who was the manager of the business, which was that of a wholesale grocery, .agreed to take four thousand five hundred dollars of stock and to pay for same in flour. Coor was the local agent of the appellant Scott County Milling Come pany, and advised the…
1Opinion of the CourtSmith, C. J.
The only error committed by the court below, in so far as the result reached is concerned, was in holding certain payments made the Scott County Milling Company to be recoverable preferences under the bankrupt law. These payments cannot be recoverable as preferences unless, at the time they were made, the Scott County Milling Company had actual knowledge or constructive notice of the insolvency of the Harding-Coor Company, conceding that this company was then insolvent. Actual knowledge on the part of the milling company is not claimed by counsel for appellee, and any knowledge that its…
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