Frank, Herman & Co. v. Robinson

Citations

• 65 Miss. 162

Syllabus

<p>1. Rescission op Sale. Fraudulent purchase of goods by trader. ?¿ 1300, Code 1880, construed.</p> <p>Section 1300, Code of 1880, which provides that “all the property, stock money, or choses in action used or acquired in” the business of a trader conducting business in his own name “shall be liable for his debts, and be treated” in favor of his creditors “as his property,” does not apply in favor of creditors of a trader so as to prevent a recision of sale and recovery of goods by one who was induced to sell the same to such trader, upon the false and fraudulent representations of the latter.</p> <p>A Same. Might of seller, as against assignee or receiver.</p> <p>And in such case the seller may revoke the sale and recover the goods so obtained by fraud, either in the hands of an assignee, or of a receiver appointed by a chancery court at the instance of creditors of such trader.</p> <p>3. Lien. For purchase money of personal property. Not confined to exempt property. $ 1255, Code of 1880, and Act of 1884, construed.</p> <p>Section 1255, Code of 1880, which is contained in the chapter “In Relation to Exempt Property,” provides, amongst other things, that “ no property shall be exempt from execution, when the purchase money thereof forms in whole or in part, the debt on which the judgment is founded.” An act of March 11th, 1884, amended this section by adding to the conclusion thereof the following words: “And if the plaintiff shall desire to establish a lien on such personal property while in the hands of the first vendee, he shall, on filing his declaration of evidence of debt, make affidavit stating that such property was sold by him for the debt, in whole or in part, sued on, or for labor done thereon, or for material furnished, as the case may be, describing in his affidavit the property, and the clerk or the justice of the peace shall issue his writ of seizure or summons, and it shall be the duty of the sheriff or constable to take possession of the property,