J. Pollock & Co. v. Okolona Savings Institution
Mississippi Supreme Court
Appeal from the Chancery Court of Chickasaw County. Hon. Baxter McFarland, Chancellor. The facts are stated in the opinion. It appears from the bill that there are other preferred creditors who should be made parties. If the appellee claims under the assignment they are eestuis que trust, and if by virtue of the payment of the money they have an interest in the fund. Burrill on Assignments, §§ 457, 493; Han.
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Appeal from the Chancery Court of Chickasaw County. Hon. Baxter McFarland, Chancellor. The facts are stated in the opinion. It appears from the bill that there are other preferred creditors who should be made parties. If the appellee claims under the assignment they are eestuis que trust, and if by virtue of the payment of the money they have an interest in the fund. Burrill on Assignments, §§ 457, 493; Han. Ch. Prac. 190. The appellee acquired no right by virtue of the deposit to set-off against the appellant’s claims. Money deposited by the assignee was not the money of Murdock & Parchman.…
1Opinion of the CourtChalmers, J.
Murdock & Parchman, a mercantile firm, in the town of Okolona, being insolvent, by deed of general assignment transferred to one Black all their property, real and personal, with directions to sell the same, and with the proceeds pay off their debts, making some of their creditors preferred and others unpreferred. Among those preferred was the Okolona Savings Bank, which was their largest creditor. Several unpreferred creditors at once sued out attachments against the assignors upon the ground that the deed of assignment was fraudulent, and levied on the goods in the hands of the assignee,…
2Cases cited2 opinions
- Hunt & Vaughan v. ShacklefordMississippi Supreme Court · 1877
- Bishop Bros. v. RosenbaumMississippi Supreme Court · 1880
3Cited by8 opinions
- Cumberland Telephone & Telegraph Co. v. WilliamsonMississippi Supreme Court · 1910
- Illinois Central Railroad v. GarrisonMississippi Supreme Court · 1902
- Whitlock v. Yazoo & Mississippi Valley RailroadMississippi Supreme Court · 1907
- Gulf & Ship Island Railroad v. BarnesMississippi Supreme Court · 1909
- Weimer v. ScalesMississippi Supreme Court · 1896
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