De Blondeau v. Faulkner

Citations

• 5 Alaska 55

Syllabus

<p>1. Pledges <&wkey;ll—Master and Servant—Possession of Property.</p> <p>The plaintiff was placed in charge of the property of his employer, the Alaska T. & T. Co., with the agreement that he should watch it and hold it as a pledge to secure the debt due him. He was given an agreed lien on it to secure the sum due him for services. The defendant in this ease, the United States marshal, seized the property under a writ of attachment in a suit brought by an attaching creditor of the Alaska T. & T. Co. On suit by the watchman against the marshal for damages, helé that the possession of the property by De Blondeau, the watchman and alleged pledgee, was the possession of his employer, the Alaska T. & T. Co., to whom the property belonged when seized by the marshal under the attachment, and the watchman, having no special property or ownership therein, cannot maintain this action. Nonsuit granted.</p> <p>2. Pledges <&wkey;ll—Lien.</p> <p>In order to constitute a valid pledge, there must be an immediate, actual, and continued change of possession of the property to the pledgee, as against creditors or subsequent purchasers or incumbrancers in good faith; and such change of possession requires the pledgee to hold the property exclusively as a security for the payment of the debt for which the property is pledged.</p> <p><©=s>See same topic & KEY-NUMBER in all Key-Numbered Digests & Indexes</p>