Richardson v. Ashby
Supreme Court of Missouri
Appeal from St. Louis City Circuit Court. — Hon. D. D. Eisher, Judge. (1) As tlie pledgee came rightfully into possession of the property pledged, he is not liable for conversion until that element of right has been removed. Therefore, to lay the ground of an action for conversion, which action is based upon actual possession, or the right to the present possession, the lien of the pledgee must first be discharged, either by payment or tender.
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Appeal from St. Louis City Circuit Court. — Hon. D. D. Eisher, Judge. (1) As tlie pledgee came rightfully into possession of the property pledged, he is not liable for conversion until that element of right has been removed. Therefore, to lay the ground of an action for conversion, which action is based upon actual possession, or the right to the present possession, the lien of the pledgee must first be discharged, either by payment or tender. Donald v. Suckling, L. R. 1 Q. B. 602; Holliday v. Holgate, L. R. 3 Exch. 299; Jones on Pledges, sec. 422; Talty v. Bank, 93 U. S. 321; Jarvis v.…
1Opinion of the CourtRobinson, J.
This action was instituted by appellant as public administrator of the city of St. Louis, having in charge the estate of Jeptha H. Simpson, deceased, to recover upon a promissory note payable to the order of Jeptha H. Simpson and signed by the defendant. Petition in the usual form.
The answer, after admitting the execution of the note in suit, avers that the defendant delivered to said *242Simpson as collateral to secure the payment of her note, sixteen negotiable notes, secured by deed of trust •on real estate, of the aggregate value of $10,000; that soon after the delivery of said collateral to…
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