Harman v. Hoskins

Citations

• 56 Miss. 142

Syllabus

<p>1. Fraudulent Instruments. When the intent a conclusion of law.</p> <p>Where, upon the inspection of a written instrument, it appears that the natural and necessary consequence of its provisions is to delay, hinder, or defraud creditors, the maker thereof or grantor therein will be held to have intended to accomplish the effect which must necessarily result therefrom, and the court will declare such instrument to be fraudulent as to the creditors, though the maker or grantor may not have really intended any fraud in its execution.</p> <p>2. Fraudulent Conveyance. Property to be acquired, and remain in possession of grantor. Case in judgment.</p> <p>On the 22d of March, 1877, H., a merchant, gave his note, to W. for $8,764.91, for past indebtedness, .due in the years 1873, 1874, and 1876, the payment of which was extended, by acceptance of the note, to the 22d of March, 1880, and on the same day executed a deed of trust to secure this note, and also $20,000, to be advanced by W. to H. during the years 1877 and 1878, to enable the latter to buy goods and general merchandise for his business. The property embraced in the deed of trust consisted of several tracts of land; all the stock of merchandise, of whatever kind, owned by H., and in his store at Gr. ; all the liens, mortgages, notes, accounts, and evidences of debt, of every kind, then owing to him; all the goods he might thereafter acquire and place in his store; and, also, each and every debt, of all kinds and descriptions, that might accrue to him before the maturity of the note, in 1880. It was stipulated in the deed that H. might continue in possession of the lands, goods, choses in action, etc., under the direction of the trustee, till he should take possession of them. The conditions were, that if H. should promptly pay his indebtedness, the deed should be void; but if ho should fraudulently dispose of any of the property, or should fail to pay the indebtedness when due, then the trustee should take the