Commercial Bank & Trust Co. v. Joiner
This text of 75 So. 599 (Commercial Bank & Trust Co. v. Joiner) is published on Counsel Stack Legal Research, covering Mississippi Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Opinion
delivered the opinion of the court.
The court below was correct in overruling the demurrer to the bill. The demurrer only states one ground, viz.; ‘ ‘ There is no equity on the face of the bill. ’ ’ The contract entered into between the appellee Joiner and McPherson on its face is not usurious. Duval v. Neal, 70 Miss. 288, 12 So. 145. The bill does not allege, and neither is it to be inferred from it, that the appellants were innocent purchasers for value of these securities. The bill expressly alleges that J. R. McPherson transferred to these appellants his remaining equity in said asssets. This was after the transfer to appellee. The question is not before us to the rights o£ innocent purchasers for value without notice of these securities. The bill states a cause of action, and therefore should be answered by the appellants.
Affirmed and remanded.
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Cite This Page — Counsel Stack
75 So. 599, 114 Miss. 749, Counsel Stack Legal Research, https://law.counselstack.com/opinion/commercial-bank-trust-co-v-joiner-miss-1917.