Sturgeon Bay Bank v. McLaughlin

Citations

• 63 Pa. Super. 588
• 1916 Pa. Super. LEXIS 219

Syllabus

<p>. Bills of lading — Draft attached to bill — Title to property — -Bale of goods — Title.</p> <p>■■ Where a grower of peas borrows money from a bank'to be used in the production of his crop, and subsequently assigns to the bank a particular quantity of peas' under an agreement by which he delivers to the bank a bill of lading in the name of the bank for the peas in question with a draft attached to the’bill of lading payable to the bank, which is to apply the proceeds of the draft to the debt, a purchaser of the peas, with notice of the rights of the bank, who takes the peas and pays the draft, cannot, after such action on his part, attach the fund in the bank as the property of the grower, for damages for an alleged breach of contract of sale by the grower.</p> <p>Where a bill of lading is attached to a draft as security for its payment, and is transferred for a valuable consideration, it is an appropriation of the property described in the bill.</p>