Wilson-Ward Co. v. Farmers' Bank & Trust Co.

On the 15th of April, 1920, S. R. Swinney executed, to the Farmers' Bank & Trust Company (hereafter called bank) a chattel mortgage on crops to be grown on 200 acres of land in Mississippi County to secure the payment of a debt to the bank in the sum of $29,368.05, evidenced by promissory notes. Between the 8th of October, 1920, and the 13th of January, 1921, Swinney, without the knowledge and consent of the bank, shipped fifty-nine bales of cotton covered by the mortgage to Wilson-Ward Company (hereafter called' company), a cotton factor in Memphis, Tennessee. The company had no knowledge of…