Whitney v. Tibbits
Wisconsin Supreme Court
APPEAL from the Circuit Court for Milwaukee County.. One Hoyt stored in tbe warehouse of tbe defendants in Milwaukee, a lot of flour, and took a warehouse receipt therefor, on tbe 11th day of June, 1862. On tbe saíne day one Comstock agreed to purchase tbe flour, provided be could get a loan upon it in store.
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APPEAL from the Circuit Court for Milwaukee County.. One Hoyt stored in tbe warehouse of tbe defendants in Milwaukee, a lot of flour, and took a warehouse receipt therefor, on tbe 11th day of June, 1862. On tbe saíne day one Comstock agreed to purchase tbe flour, provided be could get a loan upon it in store. Hoyt delivered to Comstock tbe receipt, for tbe purpose of enabling him to procure sucb loan, and Comstock went to tbe plaintiff, Whitney, and obtained from him a loan of $975 upon tbe flour, transferring to him tbe receipt, which was not indorsed. It was agreed between them that if…
1Opinion of the Court
By the Court,
Paiíte, J.
This case presents substantially the same question, as that determined in Rice et al. vs. Conkey et al., decided at this term (ante, p. 351). The question here is, whether, on a pledge of wheat stored in a warehouse, a delivery, by the pledgor, of the warehouse receipt, without indorsement, constitutes a sufficient delivery of the property, to sustain the pledge as against subsequent attaching creditors of the pledgor? The only ground for any distinction between this case and that is, that here the receipt in controversy does not run to “bearer,” as it did in that. It…
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