Western Bank v. Marion County Distilling Co.
Court of Appeals of Kentucky
* Case 15 — PETITION EQUITY APPEAL EROM LOUISVILLE CHANCERY COURT. . 1. The warehouse statute intended to make warehouse receipts “ negotiable,” so that they would pass freely, without being- subject to secret liens or equities of others; and lienee provided that “if encumbered bjr prior lien,” the “character and extent” of that lien “shall” be “fully set forth and explained in the receipt.”
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* Case 15 — PETITION EQUITY APPEAL EROM LOUISVILLE CHANCERY COURT. . 1. The warehouse statute intended to make warehouse receipts “ negotiable,” so that they would pass freely, without being- subject to secret liens or equities of others; and lienee provided that “if encumbered bjr prior lien,” the “character and extent” of that lien “shall” be “fully set forth and explained in the receipt.” (Acts 1869, vol. 1, page 57.) 2. The negotiable receipt in this ease was negotiated to the bank for full value, and the bank had no actual notice that there was any other or prior lien on the whisky the…
1Opinion of the Court
JUDGE PRYOR
delivered the opinion of the court.
Tipis action is between the Western Bank and the Marion Distillery Company, and involves the title to a number of barrels of whisky.
Henry Wolf, who seems to have been an extensive dealer in wliisky, purchased of the distillery company some twenty-five hundred barrels, at a fixed price, some of which was delivered by the execution of certain ware*93house receipts to Wolf, who transferred them to the bank in pledge, or as a security, for the loan of money.
The receipts read as follows :
“Marion Eire Copper Whisky.
“LoursviLLE, Ky., Nov. 7, 1881.
“Received…
2Cases cited1 opinion
- Greenbaum Bros. & Co. v. MegibbenCourt of Appeals of Kentucky · 1874
3Cited by1 opinion
- Boas v. De Pue Warehouse Co.California Court of Appeal · 1924