In re Assignment of Wise
Supreme Court of Iowa
Appeal from Keokuk District Oourt. — HoN. J. T. Scott, Judge. Ok August 12, 1901, M. B. Wise made an assignment for the benefit of his creditors.
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Appeal from Keokuk District Oourt. — HoN. J. T. Scott, Judge. Ok August 12, 1901, M. B. Wise made an assignment for the benefit of his creditors. Included in the property transferred were some plows, harrows, a corn planter, and •cultivator, bargained to him by the Bock Island Plow 'Company, and delivered to him by virtue of a contract .-entered into December 21, 1899, stipulating: “It is expressly agreed that all bills are to be settled by note on receipt of goods or upon monthly balances, at •the option of the party of the second part, drawn and payable at some convenient bank or express…
1Opinion of the CourtLadd, J.
Under the contract, intervener retained title to the goods as security for the purchase price. As ■these remained in possession of the assignor, and were un-disposed of when the deed of assignment was executed, it is of no consequence that the agreement was never recorded. The assignee acquired no better title to the property than had Wise, the assignor. Arnold v. Grimes, 2 Iowa, 1; Roberts v. Corbin, 26 Iowa, 316; Warner v. Jameson, 52 Iowa, 70; Hooven etc., Co. v. Burdette, 153 Ill. 672 (39 N. E. Rep. 1107.) He took the property subject to all equities, liens, or incumbrances existing…
2Cases cited4 opinions
- Hooven, Owens & Rentschler Co. v. BurdetteIllinois Supreme Court · 1894
- Arnold v. GrimesSupreme Court of Iowa · 1855
- Warner v. JamesonSupreme Court of Iowa · 1879
- Hamilton-Brown Shoe Co. v. MercerSupreme Court of Iowa · 1892
3Cited by9 opinions
- Blackman v. Baxter, Reed & Co.Supreme Court of Iowa · 1904
- Richards v. W. H. Hellen & SonSupreme Court of Iowa · 1911
- International Harvester Co. of America v. PoduskaSupreme Court of Iowa · 1930
- Murray v. McDonaldSupreme Court of Iowa · 1927
- Jenks v. Smith, Lichty & Hilman Co.Supreme Court of Iowa · 1905
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