Hooker v. Sutcliff

Citations

• 71 Miss. 792

Syllabus

<p>1. Trust-deed. Grantinq clause. Instruction. Book account. Intent.</p> <p>Where a merchant, who operates plantations, gives a trust-deed, which, without embracing the property in his store, conveys his mules, farming implements and the crops to be grown on said plantations, and “ all book accounts and notes that are now due me or may become due me during the year from my tenants and employes, or otherwise during the year,” it will not embrace indebtedness pertaining to the mercantile business. Holding it to extend beyond debts due in the planting business would be contrary to the obvious intent of the parties, and would, moreover, render the clause void for indefiniteness.</p> <p>2. Same. Debts not embraced. Collection thereof. Evidence of fraud.</p> <p>Since such trust-deed does not embrace debts due in the grantor’s mercantile business, his subsequent collection of them and use of the money is not competent to throw light on the character of the trust-deed, as being-fraudulent or not.</p> <p>3. Waiver of Lien by Mortgagee. Evidence of fraud. Unsecured creditors.</p> <p>The waiver by a mortgage creditor of his lien on specific property, in order that the grantor may apply it to the payment of another creditor, does not prejudice unsecured creditors of such grantor, and they cannot complain of it as fraudulent.</p> <p>4. Mortgage of Stock and Orors. Use of crop. Maintaining stock. Fraud.</p> <p>Where a trust-deed covers, among- other things, horses and mules on plantations and the crops to be grown thereon, the reasonable use of such crops by the grantor in feeding the stock is permissible, and other creditors of his cannot predicate on this a charge that the trust-deed is fraudulent.</p> <p>5. Trust-deed. Attachment. Claimant’s bond. Subsequent conduct. Evidence.</p> <p>Where property embraced, in a trust-deed has been attached, at the suit of creditors of a grantor, a claimant’s bond, executed by the trustee, stands in lieu of the property, and the subsequent i