Pickens v. Yarborough's Administrator
Supreme Court of Alabama
Appeal from the Circuit Court of Perry. Tried before the Hon. Geo. D. Shortridge. Assumpsit by the administrator of David Yarborough, deceased, against James C. Harrell and Joseph Pickens, “to recover the amount of thirteen promissory notes made by the defendants and one John Reed the 16th day of January, 1848, and payable one year after date to L. A. Weissinger, late executor of the last will and testament of said David Yarborough, in the sum of $45 each ; which notes, as a…
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Appeal from the Circuit Court of Perry. Tried before the Hon. Geo. D. Shortridge. Assumpsit by the administrator of David Yarborough, deceased, against James C. Harrell and Joseph Pickens, “to recover the amount of thirteen promissory notes made by the defendants and one John Reed the 16th day of January, 1848, and payable one year after date to L. A. Weissinger, late executor of the last will and testament of said David Yarborough, in the sum of $45 each ; which notes, as a part of the unad-ministered assets of the said Yarborough's estate, were turned over by said Weissingor, as executor,…
1Opinion of the CourtGoldthwaite, J.
—As a decree had been rendered against the estate of Yarborough, the representative of that estate had authority to pledge the notes sued on as collateral security for its payment.—Wheeler v. Wheeler, 9 Cow. 34. It is clear, also, under our decisions, that where a creditor has received notes as collateral security for his debt, unconditionally, without any instructions governing the course of collection, he is bound to take the necessary steps to perfect the liability of the parties ; and if the security is lost, or rendered unavailable, by his neglect, he must bear the loss.—Russell v.…
2Cases cited2 opinions
- Russell v. HesterSupreme Court of Alabama · 1846
- Herbert & Kyle v. HobbsSupreme Court of Alabama · 1830
3Cited by9 opinions
- Chapman v. HoageSupreme Court of the United States · 1936
- State Bank v. BartleSupreme Court of Missouri · 1893
- First Nat. Bank of Midland v. PowellCourt of Appeals of Texas · 1912
- Howle v. EdwardsSupreme Court of Alabama · 1892
- National Exchange Bank v. KilpatricSupreme Court of Missouri · 1907
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