Dodds v. Pratt
Mississippi Supreme Court
Appeal from the Circuit Court of Madison County. Host. T. J. Whabtost, Judge. In August, 1885, James Wales, T. S. Wood, and G. P. Buckley, each owning an interest in a remnant of a stock of goods, sold the same to one L. N. Kiser, under an agreement that Kiser should pay the purchase-money out of the proceeds of the sale of the goods, which were to be disposed of by Kiser in the regular course of business at retail.
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Appeal from the Circuit Court of Madison County. Host. T. J. Whabtost, Judge. In August, 1885, James Wales, T. S. Wood, and G. P. Buckley, each owning an interest in a remnant of a stock of goods, sold the same to one L. N. Kiser, under an agreement that Kiser should pay the purchase-money out of the proceeds of the sale of the goods, which were to be disposed of by Kiser in the regular course of business at retail. Simultaneous with this sale Kiser executed a deed of trust on the goods to P. B. Pratt, as trustee, to secure the-payment of the purchase-money. Kiser, in his own name, proceeded…
1Opinion of the CourtCampbell, J.
The goods were Kiser’s, undoubtedly, but the deed of trust he gave to secure the purchase-money for them was coetaneous with his acquisition of title, and therefore he held them subject to the deed of trust, which was paramount to any other claim.
Section 1300 of the Code of 1880 does not derange the order of priority among the creditors of the person transacting business. The property made liable for his debts is to be subjected in the order of precedence fixed by law independently of § 1300.
As the condition of the deed of trust had been broten at the time of the trial it was right to…
2Cases cited1 opinion
- Helm v. GrayMississippi Supreme Court · 1881
3Cited by9 opinions
- Campbell Paint & Varnish Co. v. HallMississippi Supreme Court · 1923
- Frank, Herman & Co. v. RobinsonMississippi Supreme Court · 1887
- Crump v. HillCourt of Appeals for the Fifth Circuit · 1939
- In re CaverDistrict Court, S.D. Mississippi · 1930
- Rome Mfg. Co. v. BaileyDistrict Court, S.D. Mississippi · 1931
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