Shad v. Livingston

Citations

• 31 Fla. 89

Syllabus

<p>BILL OF SALE. ABSOLUTE OX FACE—WHEN HELD TO BE MORTGAGE— PAROL EVIDENCE ADMISSIBLE TO EXPLAIN TRANSACTION—ASSIGNEE FOR CREDITORS TAKES PROPERTY OF ASSIGNOR CUSI ONEEE.</p> <p>1. A hill of sale absolute on its face may ho shown by parol proof to have been given as security for a loan of money, and when so shown, held to he a mortgage under our statute declaratory of wliat shall be deemed to be mortgages.</p> <p>2. Where the relationship of debtor and creditor, or borrower and lender of money is admitted to exist between the parties, and that a bill of sale absolute on its face was executed by the debtor to the creditor in connection with the making of such loan, such bill of sale will be held to be a mortgage if the preponderance of proof shows that it was executed and delivered by the debtor to the creditor for the purpose and with the intention of making such loan secure.</p> <p>8. A voluntary assignee for the benefit of creditors takes the property of the assignor cum onere, subject to all equities to which it was liable in the hands of the assignor.</p>