The comet. [volume] (Jackson, Miss.) 1877-1882, 1880-02-07
CHARLES CHAFFE, ct al.
W. j, HUGHES,

j, Appeal from the Chanccry Court of Yal
ioDusha county, Hon A, b. Fly, Chancellor
This is bill filed to have entry of salts
iactioh OF II trust deed upon the allegation
VIA. 'he deDts secured by 1t have been paid
! The facts are these: Hughes. n merchant
~ "cr Nailey, executed for the benefit
OF Chahe, Hamilton & Powell, cotton fac
'ors III new Orleans, u trust deed upon
real estate to secure payment of two notes
"ssregatlhg S2S51,I0 and bearing interest
at the rate of ten per cent per annum. and
fllrther advance of fifty dollars thereafter
W DC made. The trust deed contained n
iurthef stipulation that Hughes should
snip TO SAID firm at least $50 bales of cotton.
u'lrlhg the year, for sale on commissions.
ana that he should pay commissions at o.
per CENT on the value of that amount of
cottoh whether he shipped so much or not.
FINALLY it was agreed that all payments
maze by Hughes, whether in money or
cottoh, should be applied as said creditors
saw lit, and whether applied to the debt
secured, or to any other debt then existing
or thereafter to accrue between the parties.
Such application, no matter when made or
TO what account credited, shouldnot in onv
manner operate to impair, lessen or preiu-
olce the debts secured and intended to he
secured by the instrument or the security
thereby provided.
ollly Twelve bales of cotton were Skinned
ny hughes during the year. but the notes
anu iurther advances protected by the in
s'ruiheht were about paid in money. Moth
ing was paid on the claim for commissions I
~ o' co''oh not sent, and the principal ques-
'ioh presented is whether said commissions
are protected by the trust deed.
Il. II. Golladay for appellants. ,
G. H. Lester for appellee.
CHALMERS, j.,
Hed- a
In Cookie v. Flack, 90 U. S. 344, it is held q
lat II II appears from all the facts in the II
"se uHaG such contract has been entered +,
lto WIN no expectation on eitherside that w
ne produce shall in fact be forwarded, bnt ri ri
mere device to enable the lender of ci
lohcy TO obtain usurious rate of interest ~
W. WI De VOID; but that if made in rood Iv
'llh between parties, the one of whom is ~
1 M; III forwarding and the other in IL
'iillng the articles specified upon com Il,
isslons, it will be valid 1t is said that in W
zen cases there is something more than n NJ
ere loan of money. There is combna- ~
on OF the money advanced and of the ia
tentlon and skill promised in selling the -. -.
oduce. The factor has provided himself
lth clerks and a place of business. At
aVy expense, and perhaps by the pay
eht OF license fees, he has placed himself -
condllion to transact such business AS
" be Entrusted to him. A part of the
c:eessary outfit for doing so is his money
the credit that will enable him to nro, r. ,
re IL. Another essential element is fine I'll
epafatlon and capacity to transact the 7
Siness. When, therefore, he is apDlied ,,oa
Tor the one he may well estimate some. s''
nS Tor the exercise of the other. and
)llate that while his money brings him
'ful interest his skill and business IRE
alton shall yield something additional H.!
expense of making the preparation hns
lady been incurred, and as he stands
ny TO exert the SKILL the party who has II
ed 10 cal for its exercise cannot com n
N that he obtained no benefit from if LIZ
IN he has expressly contracted that he
pay whether he obtains its benefits or 81
his reasoning we deem satisfactory q 1
as there is nothing in the case at bar TO
5est device to evade the usurv laws -
efythlng to show BONA EIDE cy fIa
alton of receiving and selling the cot n nrol
we mold the stipulation valid and tbp Mn
MY incurred by its nonttlillment ms VII
red by the trust deed. W, WI, l.
'cree reversed and bill dismissed w. W..