Hughes v. Globe Indemnity Co.
Supreme Court of Minnesota
Action in the district conrt for Dakota county by the secretary of the South St. Paul Live Stock Exchange for the benefit of the creditors of Bovey & Humphreys to recover $5,000 upon defendant’s bond. The facts are stated in the opinion. The case was tried before.
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Action in the district conrt for Dakota county by the secretary of the South St. Paul Live Stock Exchange for the benefit of the creditors of Bovey & Humphreys to recover $5,000 upon defendant’s bond. The facts are stated in the opinion. The case was tried before. Converse, J., who made findings and as conclusions of law found that the proposed change in the bond did not have any binding force between the parties until the letter of Walter T. Lemon Company, consenting thereto, was mailed in St. Paul on January 10, 1916, and that from the time of such mailing it covered only purchases…
1Opinion of the CourtHallam, J.
Bovey & Humphreys were live stock dealers at South St. Paul. They bought of members of the South St. Paul Live Stock Exchange. It was a rule of the exchange that dealers should settle in cash for all sales within 48 hours. Bovey & Humphreys gave a bond with defendant as surety to the secretary of the exchange for the benefit of all members of the exchange, conditioned that they should “make full payment * * * for each lot of live stock purchased, within forty-eight (48) hours after delivery thereof.”
In- 1915, the rules of the exchange were changed so as to require dealers to pay for stock…
2Cases cited20 opinions
- Street v. United StatesSupreme Court of the United States · 1890
- State v. GreenSupreme Court of Missouri · 1877
- T. M. Sinclair & Co. v. National Surety Co.Supreme Court of Iowa · 1906
- Bartlett v. WheelerIllinois Supreme Court · 1902
- Union Cent. Life Ins. v. SkipperCourt of Appeals for the Eighth Circuit · 1902
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3Cited by2 opinions
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- Andes Co-Operative Dairy Co. v. Commercial Casualty InsuranceAppellate Division of the Supreme Court of the State of New York · 1923