Melton v. Williams Co.

Citations

• 83 Miss. 624

Syllabus

<p>Deed oe Tbtjst. Validity. Fraudulent conveyance. Creditors.</p> <p>A deed of trust given to secure debts is not void on its face as to the grantors’ other' existing creditors:</p> <p>(а) Because it conveys land and all the rents, issues and profits thereof so long as any part of the debts sought to be secured by it remains unpaid; nor</p> <p>(б) Because it conveys specific live stock and all other live stock, not described, owned by the grantors, and such as they might thereafter acquire during the business relations between 'the grantors and the beneficiaries; nor</p> <p>(c) Because it secured notes due eight and nine months, respectively, after its execution and an open account due eleven months thereafter, and any further indebtedness, to fall due on demand, that might be incurred, and also any advances made by the beneficiaries to the grantors during the existence of their “business relations,” such relations ceasing eleven months after the execution of the deed; nor</p> <p>(<Z) Because it contained an agreement to ship to the beneficiaries • all cotton grown or purchased by the grantors; nor</p> <p>(e) Because it contained an agreement that payments made by the grantors should first he applied to any unsecured indebtedness, next to the balance on the open account and last to the notes.</p>