Stephenson v. Price

Citations

• 30 Tex. 715

Syllabus

<p>Where cotton was delivered in 1861 to a party as bailee, to be re-delivered on demand, and no demand was made until 1865, it was no defense that the bailee had sold the cotton and invested the proceeds in negroes.</p> <p>In case of conversion of personal property by a bailee, the true measure of damages is the highest price of the article between the time of the demand and the day of trial.</p> <p>Where a party pleaded an arbitration and award, but the proof was that there was no written statutory submission, but only a verbal submission and verbal decision by the arbitrators how to settle, without any finding of any specific facts, such an award cannot be regarded. (Paschal’s Dig., Art. 60, Note 244.)</p> <p>Where the bailee was security for the bailor, and it is agreed that he may sell and pay the debt at a given price, and he sells, but does not pay until after demand, he cannot claim that he paid in cotton at that price, but is only entitled to be credited for the original debt.</p>