Leeth Nat. Bank v. Elrod

ANDERSON, Chief Justice.

The bill as last amended seems to have been drawn in the light of Patton et al. v. Darden, 227 Ala. 129, 148 So. 806, the doctrine of which was reaffirmed and applied in Kelley v. Woodley, 228 Ala. 401, 153 So. 745. The basis of the doctrine there asserted is that, where one has a lien on chattels and the right to charge the same for his use in the satisfaction of a debt secured by the lien, and the debtor has the legal title and possession, the property is affected with a trust, and, if the debtor converts or disposes of the property to another in such sort as to…