Pierson v. Canal Bank

Citations

• 106 La. 305

Syllabus

<p>Syllabus.</p> <p>1. A warehouse receipt not paraphed “for hypothecation,” etc., aa required by Section 2 of Act 72 of 1876, cannot serve as the subject of a pledge; nor can such a warehouse receipt be validly pledged without the affidavit required by Section 4 of the same act.</p> <p>2. Considering that the cotton in controversy was being held to await better prices, and that the defendant took possession of same and sold same without right, the defendant is made to account for the value of the cotton, not at the price at which the cotton was sold, but at the price which obtained a few months after the sale.</p>