Hart v. Livermore Foundry & Machine Co.

Citations

• 72 Miss. 809

Syllabus

<p>1. OoNflict of Laws. Contract. Validity. Place of performance.</p> <p>While, ordinarily, the validity of a contract is governed by the lex loci contractas., where a different place of performance is fixed therein, the presumption is that the parties contracted with reference to the law of that place. Shacklett v. Polk, 51 Miss., 378.</p> <p>%. Same. Contract of sale. Place of execution,..</p> <p>Accordingly, a written contract for sale of lumber, to be sawed, inspected, paid for, delivered and received in this state, is governed by the laws of this state, both as to its obligation and execution, though made and signed in Tennessee.</p> <p>3. Sale. When title passes. Property to he inspected, and, detwered.</p> <p>Under a contract by one to sell lumber, sawed by him in this state in a certain year, the buyer, a nonresident, to advance certain amounts when the lumber is sawed and in piles, and complete payment to be made when the lumber is inspected and loaded on the cars, the title does not pass to the buyer upon the piling of the lumber and making of advances, but remains with the seller until full payment.</p> <p>4. Executoby CONTRACT. Agreement to hold property. Title.</p> <p>An indorser of certain bills, to induce a bank to discount them, made the following agreement in writing with the bank : “ I have about 600,000 feet of lumber that 1 have sawed for the Cairo Lumber Company, a sufficient amount of which I will hold until you are paid the amount of your discount and the entire indebtedness of the Cairo Lumber Company for which I am liable. ” Held, a mere executory contract, under which no title or lien accrued to the bank. Alexander v. Berry, 54 Miss. ,422.</p> <p>5. Estoppel. In whose favor it operates. Change of position.</p> <p>Estoppel operates only in favor of one who, induced by the acts or representations of another, so changes his situation that injury would result if the truth were known.</p> <p>6. Attachment. Property bonded by claimant. When in cu