Chaffraix v. John B. Lafitte & Co.

The opinion of the court was delivered by

Marr, J.

In November, 1872, an arrangement was concluded between Morton, Bliss & Co., bankers, of the city óf New York, and two New Orleans Arms, John B. Lañtte & Co., cotton buyers, and Price, Hine & Tupper, dealers in sugar and molasses, to this effect:

Price, Hine & Tupper were to buy molasses of a certain grade in their own name, to warehouse or ship it in the name of John B. Lañtte & Co., and to deliver the warehouse receipts or bills of lading to Lañtte & Co. On receipt of these commercial evidences of title and possession Lañtte & Co. were to pay…