Gray v. Robinson

Decided March 15, 1909

Mississippi Supreme Court · decided 1909-03-15

From the circuit court of Alcorn county. Hon. Eugene O. #ykes, Judge. Gray, appellant, was plaintiff in the court below; Robinson, appellee, was defendant there. From a judgement in defendant’s favor, the plaintiff appealed to the supreme court. One George Hazard, doing business as the Corinth Brokerage Company, was engaged in buying and selling cotton for future delivery.

Relies on Campbell v. New Orleans National Bank · Montjoy v. Delta Bank

Good law ✅— No negative treatment on recordhow we know

Decided 1909-03-15

How this case has been cited

Cited by 7 later decisions — most recently February 1933

7 state decisions

Later decisions citing this case, by decade. The current decade is in progress, and our corpus holds fewer opinions from the most recent years, so the latest bars are undercounted — not a real decline.

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Wi-iitfield, O. J.,

¶1delivered the opinion of the court.

¶2It is held in Montjoy v. Delta Bank, 76 Miss. 402, 24 South. 870, that “a contract violative of public policy, or of a positive rule of law, or against good morals, will not be enforced, even at the suit of an innocent transferee, although it be evidenced *6by a promissory note payable to bearer.” It was held in Campbell v. National Bank, 74 Miss. 526, 21 South. 400, 23 South. 25, that “a contract for the payment of differences in prices, arising out of the rise and fall in the market price above or below the contract price, is a wager on the future price of the commodity, and is therefore invalid.” It is perfectly plain, from the testimony in this case, that the contracts here were exactly of this latter kind. Not a bale of actual cotton is shown to have been delivered in the four years of dealing.

¶3The judgment is affirmed.

Nletoi-ier, J.; took no part in the decision of this cause.