Cayce v. Stovall

Citations

• 50 Miss. 396

Syllabus

<p>1. Chattel Mortgage — Lien thereof — Rule at Common Law.— While the rule at common law was, that the chattel or thing mortgaged must he iu existence- at the time of the mortgage, yet there may be a pledge or hypothecation wbicli will take effect in equity so soon as tbe chattel shall be acquired. The lien attaches to the thing when it comes in esse against the mortgagor and all persons asserting a claim thereto under him. A growing crop is subject to mortgage or sale under execution. A judgment subsequent in date is subordinate to an equitable mortgage.</p> <p>% Judgments — Liens thereof on After-Acquired Property. — The lien of a judgment attaches to after acquired property from the time it is acquired by the debtor, but does not relate back to tbe date oí tbe judgment. The lien of all judgments in existence when the debtor obtains the property attaches alike. A judgment operates as a lien (if duly enrolled) from the date of its rendition upon all tlie property owned by tbe debtor at that time.</p> <p>3. Repeal of Statutes — Agricultural Act of Feb’y, 1867. — Sec. 8 of the code of 1871, provides that “this code shall supersede and repeal all preexisting statutes of a general nature, tbe subjects of which are herein revised and consolidated. The act of Fcb'y 17,1873, for the- encouragement of agriculture, introduced for tlie first time into our jurisprudence liens as defined in the 1st, 2d and 3d sections, so as to give a credit to those who produce agricultural products. The 4th and 5th sections give remedy by a special mode of suit. The 6th section, to make efficient the lien, exempts the growing crops from sale under execution. The subject matter of this statute is not revised or consolidated and is not repealed by § 8 of the code of 1871.</p>