A. Peiser & Co. v. Peticolas
Texas Supreme Court
Error from Victoria. Tried below before the Hon. H Clay Pleasants. This suit was brought by A. B. Peticolas against J. E. Carpenter in the District Court for Victoria county upon a promissory note and mortgage upon a stock of goods. The mortgaged goods were sequestered.
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Error from Victoria. Tried below before the Hon. H Clay Pleasants. This suit was brought by A. B. Peticolas against J. E. Carpenter in the District Court for Victoria county upon a promissory note and mortgage upon a stock of goods. The mortgaged goods were sequestered. Pending the suit A. Peiser & Co. and Ralph Levy each obtained judgment against Carpenter before a justice of the peace, had executions issued thereon, and levied on the same goods w'hich had been seized under the writ of sequestration sued out by Peticolas. These levies were made by the same officer who levied the writ of…
1Opinion of the Court
Bonner, Associate Justice.
The lien claimed by the plaintiff below, A. B. Peticolas, must arise from his mortgage, and not from the sequestration, which is merely a judicial deposit. (Bowler v. Stonum, 6 Tex., 72.)
The principal question necessary for the decision of this case involves the legal effect, as to third parties, of a mortgage upon a stock of goods, where the mortgagor retains possession, and, with the knowledge and consent of the mort-' gagee, sells them in the usual course of trade and applies the proceeds to rejffeuish the stock and not to the payment of the debt.
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2Cases cited8 opinions
- Robinson v. ElliottSupreme Court of the United States · 1875
- Briscoe v. BronaughTexas Supreme Court · 1846
- Baldwin v. Peet, Sims & Co.Texas Supreme Court · 1859
- Hughes v. CorySupreme Court of Iowa · 1866
- Bryant v. KeltonTexas Supreme Court · 1846
3 more not listed; retrieve them via the Exa API.
3Cited by22 opinions
- Templeman v. GreshamTexas Supreme Court · 1884
- Peticolas v. CarpenterTexas Supreme Court · 1880
- Cook & McElvey v. HalsellTexas Supreme Court · 1885
- Crow, Hargadine & Co. v. Red River County BankTexas Supreme Court · 1879
- Clark & Boice Lumber Co. v. Commercial Nat. Bank of JeffersonCourt of Appeals of Texas · 1917
17 more not listed; retrieve them via the Exa API.