Fidelity & Deposit Co. of Maryland v. B. F. Sturtevant Co.

86 Miss. 509
Mississippi Supreme Court·Decided April 15, 1905·Published·Cited by 1 cases

Opinion

Houston-, J.,

delivered the opinion of the court.

The appellee sold and delivered to the- Moorhead Cotton Mills, a corporation of Moorhead, Sunflower county, Mississippi, certain machinery on credit, without express reservation of title. After the purchaser had failed to pay for same at the time stipulated, appellee instituted, on January 30, 1903, suit and proceedings in the circuit court against it, under Code 1892, ch. 79, the appellee (plaintiff below) making the requisite affidavit under said statute. The sheriff duly executed-[518] the writ of seizure and took said.machinery into his possession on January 31, 1903, but released and restored same to said cotton mills on February 2, 1903, upon their executing proper forthcoming bond, with the appellant as surety. When said court convened, the defendant made no defense whatever to the suit, and did not appear; but appellant, as said surety, on April 2Ó, 1903, filed a special plea, setting up that on July 1, 1901, the Moorhead Cotton Mills executed (without stating to whom) its certain deed of trust covering all of this property ^ that on the first Monday of February, 1903, default having been made in the payment of the debt thereby secured, all of the property of said Moorhead Cotton Mills, including this machinery, was sold and delivered to third parties (without stating to whom) ; and that it is not now in the control of said cotton mills or this surety, and is not subject to any judgment in favor of plaintiff. To this plaintiff filed a replication, alleging that said deed of trust (which is made an exhibit to the replication) was executed on July 1, 1901, but not filed for record until September 14, 1901; that this machinery was sold and delivered to said cotton mills on August 29, 1901, and that the jsurchase money due therefor remains unpaid, and is the demand here sued on, and that said property was levied on and seized under the writ of seizure herein, while it was still in the hands, possession, and control of said cotton mills; that said deed of trust was not a paramount or prior lien'to the purchase-money lien of plaintiff on said property, which had been seized under the writ in this suit; that said deed of trust was utterly void as to “after-acquired” property, because of insufficiency and too great generality of description; that, after its filing and delivery, the mortgagee therein parted with no new consideration to defendant cotton mills; that the alleged foreclosure was merely m p'ais; and that said cotton mills voluntarily and wrongfully surrendered possession of said property on which plaintiff had a paramount [519] lien, and for the forthcoming of which said cotton mills and said appellant as surety had executed their bond in this proceeding, which was then still pending undetermined. To this replication the appellant, as such surety, interposed a demurrer, which, being overruled, and the cotton mills and said surety declining to plead further or make further defense, judgment final was entered against them, from which the said surety alone appeals, the principal not joining therein.

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Fidelity & Deposit Co. of Maryland v. B. F. Sturtevant Co., 86 Miss. 509 (Mich. 1905).

86 Miss. 509 (Fidelity & Deposit Co. of Maryland v. B. F. Sturtevant Co.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

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