Baker, Lyons & Co. v. American Agricultural Chemical Co.
Supreme Court of Alabama
Appeal from Law and Equity Court, Mobile County; Saffold Berney, Judge. Assumpsit by the American Agricultural Chemical Company against Baker, Lyons & Co., a partnership, and as individuals. Judgment for plaintiff,' and defendants appeal. The gravamen of plaintiff’s case is that defendants, who are cotton factors, sold and converted to their own use about 130 bales of cotton, which were the property of plaintiff.
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Appeal from Law and Equity Court, Mobile County; Saffold Berney, Judge. Assumpsit by the American Agricultural Chemical Company against Baker, Lyons & Co., a partnership, and as individuals. Judgment for plaintiff,' and defendants appeal. The gravamen of plaintiff’s case is that defendants, who are cotton factors, sold and converted to their own use about 130 bales of cotton, which were the property of plaintiff. The complaint contains several counts for money had and received, a count in trover, a count in trespass, and several counts for conversion, with a statement of the fact's. Count 5…
1Opinion of the CourtSomerville, J.
[1,2] The transfer by indorsement or assignment of a note and the chattel mortgage securing it, though the transfer is for collateral security only, prima facie passes to the transferee the legal title to the mortgaged chattels. Tison v. People’s, etc., Ass’n, 57 Ala. 323; Moseley v. Selma Bank, 3 Ala. App. 614, 57 South. 91; Graham v. Newman, 21 Ala. 497; 7 Cyc. 55. And upon default in payment of the mortgage debt the transferee may exercise all of the rights of the mortgagee-transferor, including, of course, the right to take and hold possession of the chattels. 7 Cyc. 58, C.
[3] Even if the…
2Cases cited10 opinions
- Booker v. JonesSupreme Court of Alabama · 1876
- Barnett v. Warren & Co.Supreme Court of Alabama · 1886
- Graham v. NewmanSupreme Court of Alabama · 1852
- Abraham v. CarterSupreme Court of Alabama · 1875
- Mauldin, Montague & Co. v. ArmisteadSupreme Court of Alabama · 1848
5 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Pennsylvania Fire Ins. Co. v. MaloneSupreme Court of Alabama · 1928