Acme Lumber Co. v. Hoyt & Bros.
Mississippi Supreme Court
From the chancery court of Lauderdale county. Hon. W. T. Houston, Chancellor. The Hoyt & Bros. Co. and. other creditors of the Acme Lumber Company, a corporation, filed the bill in this case to cancel as fraudulent a trust-deed executed by said lumber company.. The deed had. been executed to secure the payment of certain bonds issued by the company, and the holders of the bonds were made parties defendant.
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From the chancery court of Lauderdale county. Hon. W. T. Houston, Chancellor. The Hoyt & Bros. Co. and. other creditors of the Acme Lumber Company, a corporation, filed the bill in this case to cancel as fraudulent a trust-deed executed by said lumber company.. The deed had. been executed to secure the payment of certain bonds issued by the company, and the holders of the bonds were made parties defendant. The facts sufficient to illustrate the question passed on by the court appear in the opinion. Decree for complainants, and defendants appeal. The fact that the bonds were not due until five…
1Opinion of the CourtCooper, J.
Ve are of opinion that the decree of the court below upon-the principal question involved must be affirmed, but upon grounds different from that upon which the chancellor rested his conclusions. He was of opinion that the deed of trust executed by the Acme Lumber Company was valid upon its-face, but that there was fraud in fact, either in the execution-of the trust-deed and the bonds it was given to secure, or in the use to which the bonds were devoted, and, for this reason, annulled the deed. In our view, the trust-deed was-void in law, regardless of any actual fraudulent intent on the-part…
2Cases cited2 opinions
- Harman v. HoskinsMississippi Supreme Court · 1878
- Johnston v. DickMississippi Supreme Court · 1854
3Cited by6 opinions
- The Wells-Stone Mercantile Co. v. GroverNorth Dakota Supreme Court · 1898
- First National Bank v. CapertonMississippi Supreme Court · 1897
- In re Wright & WeissingerDistrict Court, N.D. Mississippi · 1921
- The Wells-Stone Mercantile Co. v. GroverNorth Dakota Supreme Court · 1898
- Cook v. StateMississippi Supreme Court · 1907
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