Clay v. T. H. Allen & Co.
Mississippi Supreme Court
Appeal from the Chancery Court of Bolivar County. Hon. W. G. Phelps, Chancellor. Thomas H. Allen & Co. filed a petition in the matter of the estate of W. G. Myers, deceased, against Green Clay, executor of the last will and testament of the deceased, for the allowance of a claim for one thousand five hundred and ten dollars and sixty-nine cents alleged to be due by Myers to them.
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Appeal from the Chancery Court of Bolivar County. Hon. W. G. Phelps, Chancellor. Thomas H. Allen & Co. filed a petition in the matter of the estate of W. G. Myers, deceased, against Green Clay, executor of the last will and testament of the deceased, for the allowance of a claim for one thousand five hundred and ten dollars and sixty-nine cents alleged to be due by Myers to them. The petition set out that Myers had instructed them to sell for him three hundred bales of cotton to be delivered by him in the future; that they sold the-cotton through Latham, Alexander & Co., in New York city;…
1Opinion of the CourtArnold, J.
The transaction in question occurred prior to the passage of the act of 1882, “to prohibit the sale and purchase of futures,” etc., and a construction of that statute is not involved in the case. The defense made by appellant, that the amount claimed by appellees on open account grew out of and was paid by them on a gambling transaction, of which they were cognizant and in which they participated, is not sustained by the proof. It is not unlawful to buy or sell commodities to be delivered at a future day, even if at the time of the purchase the seller has none to deliver and no means of…
2Cases cited4 opinions
- Irwin v. WilliarSupreme Court of the United States · 1884
- Pixley v. BoyntonIllinois Supreme Court · 1875
- Gregory v. WendellMichigan Supreme Court · 1879
- W. L. Wilkins & Co. v. RileyMississippi Supreme Court · 1872
3Cited by10 opinions
- Ascher v. Edward Moyse & Co.Mississippi Supreme Court · 1911
- Scales v. StateCourt of Criminal Appeals of Texas · 1904
- Knut v. NuttMississippi Supreme Court · 1903
- Campbell v. New Orleans National BankMississippi Supreme Court · 1896
- Lehman v. FeldU.S. Circuit Court for the District of Southern Mississippi · 1889
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