Missouri Appeal Reports Volume 37

Missouri Appeal Reports Volume 37

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1890 edition. Excerpt: ...supra, this court held that the issue by a merchant of a receipt for goods held in his own store, in the form of a warehouse receipt, had not the effect in law of a transfer of title, by means of a warehouse receipt, as against a subsequent innocent purchaser. In T horne '0. First Nat. Bank, supra, it was held that an instrument substantially like a warehouse receipt, issued by a debtor to his creditor, on property owned by the debtor, who was not a warehouseman, for the sole purpose of securing such creditor, was void as against other creditors, where the property remained in Conrad v. Fisher. the possession of the debtor. In the view which the court took, it was void as an attempt to create a lien upon personal property contrary to the provisions of the statute making chattel mortgages void unless accompanied by delivery of possession, or unless the mortgage be recorded--which statute is substantially similar to ours. R. S., sec. 2503. In Adams '0. Merchants Nat. Bank, supra, a similar ruling was made upon a similar state of facts and based upon similar reasons---the court holding that, in order to create a valid pledge by the transfer of a warehouse receipt, the receipt must be issued and transferred in compliance with the governing statute; otherwise, it will be regarded as in the nature of a mortgage, and void because not recorded or accompanied by the delivery of the property. A similar ruling was made, and upon similar grounds, in Yenni '0. McNamee, supra. This last case is also authority for the position that such an attempted pledge is not good under our statute relating to warehouse receipts. That statute recites: "All receipts issued or given by any warehouseman or other person or firm are hereby made negotiable, ..".show more

Product details

  • Paperback | 230 pages
  • 189 x 246 x 12mm | 417g
  • Rarebooksclub.com
  • United States
  • English
  • black & white illustrations
  • 1236775317
  • 9781236775313