Rice's Assignees v. Hulett
Supreme Court of Vermont
Action on the case by the plaintiffs as assignees in insolvency of Warren Rice for the value of a stock of goods. Heard upon referee’s report at the September term, 1890, Taft, J., presiding. Judgment for the plaintiffs. Exceptions by the defendant.
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Action on the case by the plaintiffs as assignees in insolvency of Warren Rice for the value of a stock of goods. Heard upon referee’s report at the September term, 1890, Taft, J., presiding. Judgment for the plaintiffs. Exceptions by the defendant. Rice was adjudged an insolvent, November 19, 1888. The plaintiffs claimed that the defendant took a transfer of these goods October 25, 1888, in satisfaction of a pre-existing debt, having reasonable cause to believe that Rice was insolvent. The defendant claimed that he bought and took possession of the goods, July 2, 1888, and ever after…
1Opinion of the Court
The opinion of the court was delivered by
TYLER, J.
The law has long been settled in this state *324that to render a sale of personal chattels valid as against creditors, there must be a visible, substantial change of possession ; but as between the parties to the transaction the property in such chattels may pass by bargain and sale, for a sufficient consideration without a delivery. This rule, requiring a change of possession, is applicable to a mortgage of chattels ; yet an unrecorded mortgage is valid between the parties thereto. R. L. 1966 ; Gilbert v. Vail, 60 Vt. 261. So the giving of…
2Cases cited4 opinions
- Peabody v. LandonSupreme Court of Vermont · 1889
- Chase v. DennyMassachusetts Supreme Judicial Court · 1881
- Gilbert v. VailSupreme Court of Vermont · 1888
- Collender Co. v. MarshallSupreme Court of Vermont · 1884
3Cited by6 opinions
- Thompson v. FairbanksSupreme Court of Vermont · 1903
- Mower v. McCarthySupreme Court of Vermont · 1906
- Desany v. ThorpSupreme Court of Vermont · 1897
- Gilfillan's Admr. v. BixbySupreme Court of Vermont · 1927
- Hill Et Ux. v. ScottSupreme Court of Vermont · 1928
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