Green v. Chilton
Mississippi Supreme Court
Error to the Circuit Court of Hinds County. Hon. S. S. Calhoon, Judge. The defendant held the money in a fiduciary capacity, within the meaning of the U. S. Rev. Stats. §. 5117. If the bankrupt receives money as agent, to be applied in a particular way, or for a specific purpose, for the use of the principal, his discharge does not relieve him from liability.
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Error to the Circuit Court of Hinds County. Hon. S. S. Calhoon, Judge. The defendant held the money in a fiduciary capacity, within the meaning of the U. S. Rev. Stats. §. 5117. If the bankrupt receives money as agent, to be applied in a particular way, or for a specific purpose, for the use of the principal, his discharge does not relieve him from liability. In re Kimball, 6 Blatch. 292; In re Seymour, 1 Ben. 348 ; In re Kimball, 2 Ben. 554; JDuguid v. Edwards, 50 Barb. 288; Treadwell v. Holloway, 46 Cal. 547. The rule was the same under the act of 1841. Matteson v. Kellogg, 15 Ill. 547 ;…
1Opinion of the CourtChalmers, J.
J. & T. Green, bankers in the city of Jackson, forwarded for collection to J. M. Chilton, their correspondent and agent, at Clinton, certain drafts and notes which had been intrusted to them by their foreign correspondents. Chilton collected the paper, appropriated the proceeds to his own use, and now, to this suit by the Greens to recover the amount from him, interposes a plea of a discharge in bankruptcy, granted him since the reception of the money. The legal question presented is whether the liability was a fiduciary debt within the meaning of the bankrupt law, and therefore not…
2Cases cited6 opinions
- Neal v. ClarkSupreme Court of the United States · 1878
- Chapman v. Forsyth & LimerickSupreme Court of the United States · 1844
- Cronan v. CottingMassachusetts Supreme Judicial Court · 1870
- In Re L. S. Good & Co.United States Bankruptcy Court, N.D. West Virginia · 1980
- Fireside Thrift of Hawaii, Inc. v. Kealoha (In Re Kealoha)United States Bankruptcy Court, D. Hawaii · 1980
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3Cited by2 opinions
- Svanoe v. JurgensIllinois Supreme Court · 1893
- Du Pont v. BeckIndiana Supreme Court · 1881