Dick v. Laird

7 F. Cas. 668, 5 D.C. 328, 5 Cranch 328
CourtU.S. Circuit Court for the District of District of Columbia
DecidedNovember 15, 1837
StatusPublished
Cited by6 cases

This text of 7 F. Cas. 668 (Dick v. Laird) is published on Counsel Stack Legal Research, covering U.S. Circuit Court for the District of District of Columbia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Dick v. Laird, 7 F. Cas. 668, 5 D.C. 328, 5 Cranch 328 (circtddc 1837).

Opinion

Cranch, C. J.,

(ThRuston, J., absent,) delivered the opinion of

the Court.

This cause now comes before the Court upon an exception to the auditor’s report disallowing a claim of James Dunlop & Company, of London, for a balance of £5,020 2s. against the late firm of John Laird & Son in the hands of William Laird, the only surviving partner.

The principal question is, what was the intent with which William Laird shipped to James Dunlop & Co. the tobacco which was on hand in Georgetown, at the death of Mr. John Laird, and which had been purchased in his lifetime with the joint funds of John Laird & Son ; and with what intent it was received by Dunlop & Co.; for that intent, if ascertained, must govern the application of the proceeds of the sales of that tobacco. The intent and understanding of the parties constituted the contract between them.

It appears by the bill and answer, and the accounts of James Dunlop & Co. with John Laird & Son; and of John Laird & Son with James Dunlop & Co. as kept by them respectively, that [330]*330John Laird & Son were merchants residing in Georgetown in the District of Columbia, and that James Dunlop & Co. were merchants residing in London. That a long course of business had been carried on between them, for many years, which consisted of shipments of cargoes of tobacco by John Laird & Son to James Dunlop & Co. for sale, in London or elsewhere, by the latter firm, for and on account of the former. That the understanding and. practice, if not the express contract, was, that John Laird & Son should be permitted, upon every shipment so made, to draw upon James Dunlop & Co. at sixty days sight for the probable amount of the proceeds of sales of the tobacco so shipped and consigned to them; and that they would accept, and, at maturity, pay such bills, whether the tobacco should then have been sold or not, and whether they should or should not then have actually received the proceeds thereof; it being understood that interest should be charged upon their acceptances, and credited upon the proceeds of sales.. It was therefore a case of principal and factor. Each consignment was a bailment for sale and remittance ; not a general payment on account. It was the fund to meet the bills drawn, and to be applied in the first place solely to that object. If the proceeds of the sales exceeded the bills, the surplus, and that only, could, in good faith, be applied by James Dunlop & Co. to the extinguishment of any general balance ,of account which might be in their favor. If the agreement had been that James Dunlop & Co., instead of accepting the bills of John Laird & Son, should remit the proceeds of sales by bills drawn in Europe upon merchants in this country in favor of John Laird & Son, the nature of the business would have been the same. It would still have been a case of principal and factor. Dunlop & Co., it is true, had a lien on the goods of their principal for any general balance due to them; but they were not bound to resort to it; nor could they do so in good faith after so long and uhiform a course of credit, as justified Laird & Son in expecting that their bills would be honored, unless Dunlop & Co. should have cause to doubt the solvency of Laird & Son.

The object of Laird & Son was to receive here, as soon as possible, the proceeds of the sales so that they might invest them in other cargoes, and thus continue a business advantageous to both parties ; to Laird & Son by the profit on the' sales ; and to Dunlop & Co., the factors, by their commissions for transacting the business. In this manner the business was regularly carried on, Dunlop & Co. being generally in advance, until the death of Mr. John Laird, on the 11th of July, 1833, when it appears by the accounts, as kept by both firms, that there was a balance due to Dunlop & Co. of £4,232 6s. 3d.

[331]*331For this balance Dunlop & Co. had a right to charge the joint estate of John Laird & Son, and the separate estate of each of the partners, in case the joint estate should be insufficient; and' have still a right so to do, unless that balance has been paid.

But it is contended that that balance has been paid, by consignments (made by W. Laird the surviving partner) of tobacco which was on hand, in this country, at the time of Mr. John Laird’s death; and which had been purchased, in his lifetime, with the joint funds ; although, at the time of making those consignments, the surviving partner drew bills on Dunlop & Co. the consignees, for the full value of the tobacco thus consigned, which bills they accepted and paid before the proceeds of the sales of that tobacco came to their hands.

It is supposed in argument that when these consignments were made, no appropriation was made of the proceeds by either party, the consignor ’ or consignees; and that, as this is a case between conflicting creditors, the consignment, or the proceeds thereof, must be considered as payments made without application to any particular items of the account, and therefore the Court must apply them to the oldest items on the debit side; which would include the whole balance due at the time of the death of Mr. John Laird; and that as the estate of Mr. John Laird is not liable for any balance due upon transactions since his death, the claim of Dunlop & Co. was properly excluded by the auditor from all participation in the funds of the firm of John Laird & Son, and in the estate of the deceased partner John Laird. This doctrine is built upon the decision of Sir William Grant, the master of the rolls, in Clayton's case, which constitutes a part of the case of Devaynes v. Noble, 1 Merivale, 585, which is a leading case upon this point, and has been confirmed by several subsequent eases. In that case, Clayton had deposited money in a banking-house consisting of Devaynes and four other partners. Devaynes died, and the other partners continued the business under the same name for several months, and then became bankrupt. At the time of the death of Devaynes, Clayton had in the bank ¿£1,713, and before he deposited any further sums he drew out several sums, amounting to ¿£1,260, reducing his balance to ¿£453. From this time to the bankruptcy he both paid in and drew out considerable sums; but his payments were so much larger than his receipts, that at the time of the bankruptcy his cash balance in the hands of the surviving partners exceeded £1,713, the amount of his cash balance at Devaynes’s death. It was admitted that the £1,260 which he drew out after Devaynes’s death, and before he made any new deposits, extinguished so much of the old balance, and the contest was only as [332]*332to the £453. As to which it was contended by the representatives of the deceased partner, Devaynes, and so decided by the master of the rolls, that although Clayton subsequently deposited more money than he drew out, so that his balance at the time of the bankruptcy was larger than it was at Devaynes’s death ; yet as he had, after his new deposits, drawn more than £453, without applying his drafts to any particular sums deposited, his drafts were to be applied to the oldest debits in his accomm; and therefore the whole balance due at Devaynes’s death was extinguished before the bankruptcy.

In order to make that case applicable to the present, it must be shown that the consignments of the tobacco which was on hand at the death of Mr.

Free access — add to your briefcase to read the full text and ask questions with AI

Related

Gaines v. City of New Orleans
17 F. 16 (U.S. Circuit Court for the District of Eastern Louisiana, 1883)
Garesché v. Chouteau
37 Mo. 413 (Supreme Court of Missouri, 1866)
Buchanan v. Pue
6 Gill 112 (Court of Appeals of Maryland, 1847)
Drane v. Scholfield
6 Va. 386 (Supreme Court of Virginia, 1835)
Executors of Gregory v. Forrester
6 S.C. Eq. 318 (Court of Appeals of South Carolina, 1826)
Cowles v. Harts
3 Conn. 516 (Supreme Court of Connecticut, 1821)

Cite This Page — Counsel Stack

Bluebook (online)
7 F. Cas. 668, 5 D.C. 328, 5 Cranch 328, Counsel Stack Legal Research, https://law.counselstack.com/opinion/dick-v-laird-circtddc-1837.