Locke Cotton Mills Co. v. Pate Cotton Co.

Tbe first two issues, which were not seriously controverted, established tbe fact that warehouse receipts belonging to tbe plaintiff and *187representing some $15,000 worth of cotton had been fraudulently converted by plaintiff’s agent, and thereafter transferred to the defendant in discharge of the agent’s personal liability to the defendant on an unpaid check. The controversy was fought out on the third issue whether the defendant acquired the warehouse receipts for value in good faith without notice of the defective title of the transferer, as claimed by defendant.

The warehouse receipts, the…