Gattman & Co. v. Acker

Decided January 19, 1885

Mississippi Supreme Court · decided 1885-01-19

In September, 1884, F. G. Henley purchased of John T. Franklin four bales of cotton, giving bim a check therefor, drawn on Gattman & Go., bankers, of Aberdeen, Miss. Henley went to the bank and asked them to pay the check and he would let them hold the cotton as security, but the warehouse receipts were not delivered up until some days later.

Affirmed, · Decided 1885-01-19

¶1Opinion.

Cooper, J.,

¶2delivered the opinion of the court:

¶3The facts in this record do not disclose a case of purchase by Henley as the agent of Gattman & Co. The purchase was by Henley for himself, the money paid was for his account, and he was and is liable to pay the same as a debt to Gattman & Co.

¶4The evidence shows only an unexecuted agreement that Gattman & Co. should have a pledge of the cotton to secure the payment of the money advanced. There was no delivery of the cotton, and, therefore, no pledge.

¶5The judgment is affirmed.