Prewett v. Dobbs

Citations

• 21 Miss. 431

Syllabus

<p>On the 17th of February, A. D. 1845, M. executed a bill of sale of a slave to P., and received therefor from P. $ 150 in money and P.’s note for $200, due in two years' thereafter; M. retaining possession of the slave, and agreeing verbally with P., that if M. should, by the maturity of the note made by P., pay the purchase-money, $350, to P., and should pay hire for the slave at the rate af $ 37.50 per annum, the contract of sale should be rescinded; the next day P. gave M. a written memorandum to a similar effect; the slave, at the time, was worth $550, and her annual hire $85 per annum : Held, in view of these facts, the contract between P. and M. was a mortgage, and not a conditional sale.</p> <p>The statute (Hutch. Code, 606, $ 5,) regulating the liens of mortgages and deeds of trust, and the period of their talcing effect, does not apply to mortgages executed out of this state on property out of the state ; and therefore where such property, so mortgaged abroad, is afterwards brought into this state, the mortgagee does not lose his right by omitting to record his mortgage in this state, even as against bona fide purchasers for value, without notice of such mortgage.</p> <p>While personal property under mortgage is not subject to seizure and sale under execution, or ordinary attachments at law, a different rule prevails as ! to distraints for rent, under the statute (Hutch. Code, 810,A 10,) which pro vides, that “any limited property or interest” in the goods and chattels attached, may be distrained and sold for such interest as the tenant may have.</p>