Perkins ex rel. Bank of Commerce v. Lippincott Co.

Citations

• 260 Pa. 473
• 103 A. 877
• 1918 Pa. LEXIS 551

Syllabus

<p>Contracts — Sales—Passage of title — Delivery — Possession — Assignment of account — Innocent purchaser.</p> <p>An importer purchased goods upon a letter of credit issued through a hank. The goods were shipped to the order of the hank with bill of lading and drafts attached. The hank authorized the delivery of the goods to the importer, taking from him a trust receipt whereby he agreed to hold the assignment in trust for the hank; and, in the event of a sale, collect the proceeds and deliver the same to the hank. The goods were sold; no delivery of the goods was ever made to the importer; and he was never in possession thereof; they were delivered directly to the vendee. The importer assigned the account represented by such sale to a second bank as security for advances, 'the second hank having no notice of any defect in the title of the importer. In an action by the importer for the use of the second bank to recover from the vendee the price of the goods, the judge who tried the case without a jury found in favor of the defendant. Held, the importer had no title or possession of the goods and was not entitled to the proceeds of the sale thereof, and the judgment was affirmed.</p> <p>Perkins to use of Bank of Commerce v. Halpren et al., 257 Pa. 402, distinguished.</p>