Birch Tree State Bank v. Brown
Missouri Court of Appeals
Appeal from Greene Circuit Court. — Hon. James T. Neville, Judge. (1) The agreement between Brown and Pate that Brown would buy bank stock with the $1500 and put it up1 as security for the note was sufficient to create an equitable lien. 31 Oyc. 797; Bispham’s Principles of Equity, 470. (2) The. agreement between Brown and Coffman that Coffman could hold Brown’s stock as security for plaintiff, was sufficient to establish a lien on the stock. Bank v. Trust Co., 135 Mo.
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Appeal from Greene Circuit Court. — Hon. James T. Neville, Judge. (1) The agreement between Brown and Pate that Brown would buy bank stock with the $1500 and put it up1 as security for the note was sufficient to create an equitable lien. 31 Oyc. 797; Bispham’s Principles of Equity, 470. (2) The. agreement between Brown and Coffman that Coffman could hold Brown’s stock as security for plaintiff, was sufficient to establish a lien on the stock. Bank v. Trust Co., 135 Mo. App. 366; 31 Cyc. 801. (3) Mrs. Moore’s stock was subject to the lien to secure the note held by the Bank of Commerce, and…
1Opinion of the CourtNixon, P. J.
This suit was commenced in the circuit court of Greene county, the object of which was to establish and foreclose a lien on bank stock in the hands of defendant W. C. Potter which plaintiff claims was put up as collateral to secure the payment of a note of $1500.00 which W. H. Brown, one of the defendants, executed to the plaintiff for money loaned for the purpose of buying bank stock. The suit was tried before, the court sitting in equity which rendered a judgment in favor of plaintiff and against Brown on the note, and also found that Potter had notice of plaintiff’s claim at the time he…
2Cases cited5 opinions
- Rice v. GroffmannSupreme Court of Missouri · 1874
- Bailey v. PardridgeIllinois Supreme Court · 1890
- Grand Avenue Bank v. St. Louis Union Trust Co.Missouri Court of Appeals · 1909
- Ulrich v. McCormickIndiana Supreme Court · 1879
- Lumley v. CorbettCalifornia Supreme Court · 1861
3Cited by1 opinion
- Murry v. Central BankMissouri Court of Appeals · 1931