LeGierse & Co. v. Whitehurst

Citations

• 66 Tex. 244
• 18 S.W. 510
• 1886 Tex. LEXIS 493

Syllabus

<p>1. Notice—Innocent purchaser—A vendee having knowledge of the custom of hisinsolvent vendor to conduct business upon the credit system, is ordinarily put upon inquiry as to the situation and motives inducing a sale of his stock. But knowledge by the vendee that the vendor owns other property sufficient to satisfy all the liabilities, the size and character of his business would induce one to suppose existed at one time, is sufficient to silence inquiry into the character of the sale.</p> <p>2. Same—A solvent debtor may make a fraudulent sale ; but, unless the seller be insolvent, the duty of inquiry by the purchaser does not necessarily arise from the character of the sale.</p> <p>3. Same—See statement of case for facts held insufficient to charge a purchaser with notice of his vendor’s fraudulent intention.</p>