Bank of Hazlehurst v. Goodbar & Co.
Mississippi Supreme Court
From the chancery court of Copiah county. Hon. H. C. Conn, Chancellor. This was a proceeding in equity by Goodbar & Co., creditors of Millsaps & Bro., to set aside as fraudulent certain conveyances made by that mercantile firm to certain relatives of the members thereof, and also a deed of trust in favor of the Bank of Hazlehurst, which last mentioned instrument included, with the lands thereby conveyed, personal property described as the ££ stock of goods and store accounts…
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From the chancery court of Copiah county. Hon. H. C. Conn, Chancellor. This was a proceeding in equity by Goodbar & Co., creditors of Millsaps & Bro., to set aside as fraudulent certain conveyances made by that mercantile firm to certain relatives of the members thereof, and also a deed of trust in favor of the Bank of Hazlehurst, which last mentioned instrument included, with the lands thereby conveyed, personal property described as the ££ stock of goods and store accounts of Millsaps & Bro., at the Brown’s Wells store, now in their possession.” The bill charges that, since the deed of…
1Opinion of the CourtCooper, C. J.
It is the misfortune of the appellant that in the security it accepted from its debtors was included the mortgage of the stock of goods and store accounts, under a contemporaneous ■oral agreement by which the debtors were permitted to continue their mercantile business, using the mortgaged stock of goods therein, selling the same, and reinvesting the proceeds. Under a long line of decisions, mortgages of this character have been held fraudulent and void as to other creditors. Harman v. Hoskins, 56 Miss., 142; Joseph v. Levy & Co., 58 Miss., 845; Britton & Mason v. Creswell, 63 Miss., 394;…
2Cases cited3 opinions
- Harman v. HoskinsMississippi Supreme Court · 1878
- Britton & Mayson v. CriswellMississippi Supreme Court · 1885
- Kelly v. AlredMississippi Supreme Court · 1888
3Cited by6 opinions
- In re CaverDistrict Court, S.D. Mississippi · 1930
- In re Wright & WeissingerDistrict Court, N.D. Mississippi · 1921
- Coffeeville Bank v. StoneMississippi Supreme Court · 1928
- Green v. BohuslavMississippi Supreme Court · 1967
- Winchester-Simmons Co. v. PhillipsCourt of Appeals for the Fifth Circuit · 1926
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