Cochran v. Ripy, Hardie & Co.
Court of Appeals of Kentucky
Case 61 — PETITION ORDINARY APPEAL PROM JEFFERSON COMMON PLEAS COURT. 1. Section 10, chapter 24, General Statutes, does not apply to pledges of warehouse receipts, because a pledge is not a mortgage, and said section provides for mortgages only. 2. In a pawn or pledge of goods, a delivery of possession is essential. The general property does not pass as in case of mortgage, but remains in the pawnor.
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Case 61 — PETITION ORDINARY APPEAL PROM JEFFERSON COMMON PLEAS COURT. 1. Section 10, chapter 24, General Statutes, does not apply to pledges of warehouse receipts, because a pledge is not a mortgage, and said section provides for mortgages only. 2. In a pawn or pledge of goods, a delivery of possession is essential. The general property does not pass as in case of mortgage, but remains in the pawnor. (Garlick v. James, 12 Johns. 149; Cortelyon v. Lansing, 2 Caine’s Cases in Error, 201.) When the pawn is not capable of manual tradition, there may be a symbolical delivery of possession, as in…
1Opinion of the Court
JUDGE PRYOR
delivered the opinion of the court.
The appellants Cochran & Fulton, merchants of the city of Louisville, advanced to one William H. Shipman, of Lawreneeburg, Ky., $7,500 in their two acceptances, payable in four months from the 16th of May, 1874. For the purpose of securing appellants, Shipman gave them a warehouse receipt for ninety-five barrels of whisky, reading as follows: “Received May 16th, 1874, of Cochran & Fulton, on storage in my warehouse, situated in Lawrenceburg, Ky., ninety-five barrels of T. B. Ripy whisky, made in the month of April, 1873, marked with the serial…
2Cases cited1 opinion
- Greenbaum Bros. & Co. v. MegibbenCourt of Appeals of Kentucky · 1874
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- Maryland Casualty Co. v. Washington Loan & Banking Co.Supreme Court of Georgia · 1928
- Clyde S. S. Co. v. WhaleyCourt of Appeals for the Fourth Circuit · 1916
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