Strong v. Krebs

Citations

• 63 Miss. 338

Syllabus

<p>Chancery. Breach of contract. Remedy at law. Assignment preferring creditors.</p> <p>D. leased M. a saw-mill site and made advances to him to run the mill to be erected thereon. M. agreed to buy logs from D., and to sell him all the lumber manufactured at the mill. M. became insolvent and assigned his saw-mill, lease of the mill site, logs received from D., and lumber on hand to K. for the benefit of other creditors than D., and without having paid his indebtedness to the latter. D. filed a bill in chancery to have the property so assigned to K. subjected to the payment of his debt. Held, that D. has no lien on the property, nor is there a fiduciary relation between the parties. The case presents simply a breach of contract, which can be amply compensated for by an action at law; and, in contemplation of law, the ■assignment is not fraudulent because it prefers certain creditors to the exclusion of D.</p>