Gray v. Helm

Citations

• 60 Miss. 131

Syllabus

<p>1. Deed or Trust. On growing crops and personalty. To secure future advances. Validity and construction thereof.</p> <p>On the 3d of May, 1880, M. executed a deed of trust reciting an indebtedness on his part to H. & L. on a promissory note, and that “ whereas, said party of the first part expects said H. & L. to advance him money, supplies, and merchandise during the year 1880; and whereas, said party of. the first part has agreed to secure the payment of said note, as also any further amounts that may be advanced as aforesaid and not mentioned herein, the party of the first part, in consideration of the premises, as well as of 510 to him paid by G-., trustee, hereby bargains, sells and conveys to said trustee the following described property situated in Hinds County, Mississippi, viz.: his entire crop of cotton and corn raised by him and hands he may employ during the year 1880 on land belonging to himself, or on any other land they may cultivate during said year; also any and all cotton and corn that may be due said party of the first part as rent for said year; also all stock now owned by said party of the first part, and used on the Whitaker and1. Watson places. It is further distinctly understood and agreed between the-parties aforesaid that this deed is made and intended to secure any advances on account of the crop of 1880 made after the maturity hereof, and not mentioned herein.” The debt secured by the deed of trust was to mature on the-1st of November, 1880. This deed of trust, after being duly recorded, operated as against creditors of M., to secure all advances made by H. & L. before the maturity thereof; but it covered only such advances made after its. maturity as were directly connected with the growing, gathering, and handling of the crops.</p> <p>2. Same. Payments not covered thereby. Case in judgment.</p> <p>In the case above stated drafts were drawn by third persons on M., for the price' of mules and provisions sold prior to the maturity of th