Insurance Co. v. Kiger
Supreme Court of the United States
Error to tbe Circuit Court of tbe United States for tbe District of Louisiana. On tbe lltb of March, 1876, tbe General Assembly of Lornisiana passed an act, No. 72, entitled “An Act governing tbe manner in 'which cotton-press receipts, warehouse receipts, or tbe receipts of other custodians of any property whatevef, shall be issued, in all cases where such receipts shall or may be used or pledged as collateral security for money advanced or borrowed on faith of tbe property…
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Error to tbe Circuit Court of tbe United States for tbe District of Louisiana. On tbe lltb of March, 1876, tbe General Assembly of Lornisiana passed an act, No. 72, entitled “An Act governing tbe manner in 'which cotton-press receipts, warehouse receipts, or tbe receipts of other custodians of any property whatevef, shall be issued, in all cases where such receipts shall or may be used or pledged as collateral security for money advanced or borrowed on faith of tbe property therein specified, and governing the delivery and disposal of tbe property for which such receipts may be issued.” The…
1Opinion of the CourtChief Justice Waite
There are two questions in this case: 1, whether the insurance company can hold the cotton as against Kiger; and, 2, whether, if it cannot, Boyd & Co. are liable for the amount for which their receipts were pledged.
1. As to Kiger. Before the act of 1876 it was settled by numerous decisions in Louisiana that a factor could not pledge for his own debts the property of his principal. Stetson v. Gurney, 17 La. 166; Hadwin v. Fisk, 1 La. Ann. 43-74; Miller v. Schneider & Zuberbier, 19 id. 300; Young v. Scott & Cage and Cavaroc, 25 id. 313. The act óf 1876 does not, as it seems to us, materially…
2Cases cited1 opinion
- Hadwin v. FiskSupreme Court of Louisiana · 1846
3Cited by20 opinions
- Commercial National Bank v. Canal-Louisiana Bank & Trust Co.Supreme Court of the United States · 1916
- Allen v. St. Louis BankSupreme Court of the United States · 1887
- Selliger v. Kentucky Ex Rel. AlexanderSupreme Court of the United States · 1909
- Maxwell v. W. B. Thompson & Co.Supreme Court of Louisiana · 1932
- Commercial Bank v. HurtSupreme Court of Alabama · 1892
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