Taylor v. Turner

Citations

• 87 Ill. 296

Syllabus

<p>1. Pledge—what a delivery of grain shipped,. The delivery by a purchaser of grain to his vendor, at the time of the shipment, of the railroad receipts, as a security for the payment of the purchase money, is a symbolical delivery of the grain as a pledge, and vests in the pledgee a special property entitling him to the proceeds of the grain to the amount of his debt.</p> <p>2. Same—neglect to give notice of parly’s right. The neglect of a party holding railroad receipts for grain shipped, as security for the payment of drafts given by the shipper to him for the purchase money on the consignee, to give notice to the consignee of his right, until the latter has sold the grain and applied the proceeds on an indebtedness of the shipper to him, under a previous agreement, will not interfere with the assertion of the rights of such party as against the consignee, who has not parted with anything or incurred any liability on the credit of the grain coming to his possession.</p> <p>3. Sale—interest of purchaser of grain pledging same for price. Where a purchaser of grain agrees, before shipment, with the seller, that the seller shall ship the same to the purchaser’s commission merchant for sale, in the purchaser’s name, and the purchaser draws drafts on the commission merchant for part of the price, and delivers the same, with the railroad receipts, to the seller, the purchaser’s only interest in the grain will be that of pledgor—that is, the surplus in the proceeds of sale after payment of the drafts; and he can not give to the consignee any greater interest than he himself has, even by a pre-existing agreement.</p> <p>4. Consignment—delivery to consignee. Delivery to a carrier is considered as a delivery to the consignee only when and as it is in agreement with the terms and intention of the shipment.</p> <p>5. Trover—when it lies. Where grain, with the consent of both the seller and buyer, is consigned to, and goes into, the hands of a commission merchant for sale in