Loeb v. Chicago, St. Louis, & New Orleans Railroad

Citations

• 60 Miss. 933

Syllabus

<p>Deed oe Trust. Rights of tort-feasor as between grantor and trustee. Casein ¡judgment.</p> <p>E. executed a deed of trust on a mule belonging to bimself to L. as trustee for G-. & Oo. to whom E. was indebted. The animal remained in the possession of E. with the right in the trustee to take possession and sell upon the maturity of the debt. This deed of trust was duly recorded. The debt matured and remained unpaid and the animal continued in the possession of E., and while so in his possession was run over and killed by the cars of the Chicago, St. Louis and New Orleans Railroad Company. The railroad company had no actual knowledge of the existence of the trust-deed, and, being called upon by E. for compensation, paid him the agreed value of the mule. E. did not pay over to the trustee or the cestui que trust in the deed of trust any portion of the money collected from the railroad company and he being insolvent, the trustee brought this suit against the railroad company to recover damages for the killing of the mule. There was no collusion of the railroad company with B. Held, that the payment.to E. was a bar to any recovery by the trustee against - the railroad company.</p>