Hirsch Bros. & Co. v. Richardson, Mason & Co.

Citations

• 65 Miss. 227

Syllabus

<p>1. Sade op goods. Fraudulent intent of seller. Right of purchaser to secure-his debt.</p> <p>A creditor may, in good faith, purchase goods from his debtor in order to secure his debt, and the transaction will be valid, though the debtor, in making the sale, may have been actuated by the purpose of defrauding his. other creditors.</p> <p>2. Same. Payment of cash by purchasing creditor. Case in judgment.</p> <p>And if in such case the purchasing creditor pay to the selling debtor a small amount of money, being the difference between the debt and the value of the goods, the validity of the sale is not thereby affected, even though the creditor have reason to believe that such cash difference will not be paid over to other creditors, provided the purchaser only paid the same in order to secure his debt, and not for the purpose of aiding or abetting the debtor in defrauding his other creditors.</p>