The weekly clarion. [volume] (Jackson, Miss.) 1863-1882, 1881-01-13
SUPREME COURT DECISIONS.
Pep,rts5 for The Clarion by I. Brame, Attor-
uey-at-Law, Jackson, Miss.
OCTOBER TERM, 1880.
PAXTON,


JPAEroS, 49,.
YER. WEES & co.
ApDsaI from the Chaucery Court Of
Washington County, Hon. w. q. Phelps
Chancellor.
lin February, 1877, a number Of the
coEored tenants Of Paxton executed two
trust deeds on their crops Of that year tc
cure Lensdeld. q merchant, in the advance
81 supp.ies and it was stipulated that 8
certain amount should be advanced There
being an alleged failure to furnish the
necessary supplies, Paxton made advances
and when the cotton WAS sold he applied
the proceeds to the payment OF the same
including amounts furnished after notice Of
the trustdaeIs The cotton was insufficient
to pay Paxton aud ne refused to pay any OF
the proceeds 10 Meyer, Weis & Co, who had
become as-ignces of the trust deeds. There
upon, they filed a bill to enforce their
claims, making Paxton and the tenant,
defendants.
The Chancellor held that the tenants
were not coucIusiyely bound by the contract
price of the goods, and the cause was re-
ferred TO q master to state on account, cat
such rates for the articles charged as shall
appear to have been customary, fair and
reasonable in the kind of credit bushes,
and with the class of people wish which
and by whom said accounts were contracted
in 1S77.'
The testimony showed that higher price
u .as CHARGED to ppr-Ous buvinr as these
tenants did than to solvent customers. The
,rorob,nt uas allowed a nrogt of from
~
i'iii''' 90 ""' '.''0" P'' O'ii' ",'''e' =
per cent commissions Tor advancing, and
Interest aid the rate of 10 per cent. from
January ], 1873. the trust deeds providing
for such commissions and interest.
From this decres Paxton appealed.
GEORGE. J..
Afyty
l. No price oclag h1ed In the trust deeds
PIT WhieA the goods were to oe charged, the
price Is To- De What the GOODS were reasona-
= by worm al lhe time ana place oil the sale
lotiti AMIN On 7.'ieS' o2-o story oh SAFES
F" I7- y 'ue Ie'',I'1pte N"IuG OF So9ds
= % 'e 4.ssLih 'ule o'oIu'rIiy oy Ihe market
P['te' h'I Tue mar pf'Ge aV any Partlc-
] Value. such price may be uuduly lnttu-
ehced by speculation or other causes Ace5a5
Lst3' ny hlrSa, 90 - Penn, st. IL,
or,
-Li'' IS true Is I" transactions between
AeSui@' '@"l'i7 '"I 1t9h oy Ihe wholesale, I'D
'0''9-'t go N"'i'ii'i''ie9 having quolApe
ma Ne ~ II.
" ls' reference To TeIai' Iradihg a market
PIlce - i'''s d''hcul. 10 hN' ana IL Is less
PoIeIt a. Il measure OF 'Aiue.
q. !" a. a., INNING tHe reasonable value OF
49, 81 -. r''' uI G'e'.i' 'iiere must
~ : /" ~. 10 '.'ts 'HI" u" S''e' D! "hoie
SAFE. we must look IN large measure to
tile gidse o. 'Hy P''ces cha[Sed py retail
81 - NS'eI u''''e '"c Salue. Inc ulIerehce'
oet"r 3, e'a anu credit prices IN 'uch sales
i n liking amarsas value Of Of goods sold
of t'elil, interest inisnI DE aq1e9 To the
-, -. Ii+,.,r, ~
I'm 81 $500 - "oulu
nm "'t ~ "'JN N' v'e .e.A'' mar Ae' price
D. As 3h element IN hNlng the market
pics, the insolvency OF any of the purchas-
etS - never e'h7ldered IN legitimate com
mere. pther"i7e the price would vary IN
'''S''iiye Att'FutuS 10 Ihe degree OF
gHst OF 'Hc particular customer
lg IeaI i'''Nl o' iuq ui'! Is not as TO
thS market OF nSual price Oh tue goods but
an,,1, ,S.,l ';,i1tS 't,ue' me price
ous.' u Oo"s'"s'TN' ou' 1t Is ohiy
ilcahs o' Gc'erhi'hlHs Tue reasonable value.
:. Applying these principles to the case,
the directions OF the decree As To ascertaining
fhe Vaiae o. the goods were erroneous The
mefeA1hJ found himself to furnish the
goUt.' a bat they were reasonably worth
he To- h,s own security for payment, aud
had No right ID charge the tenants an in
eiease' 2'ice ON account OF their insolvency,
or the class to which they belonged.
: ne da'y OF the court was to enforce
The contract Tor the delivery of goods at a
reasonable value not to make a contract
W lft 70 an element as to the insolven.
The debt The ntste vi Inc, rHe insecurity OF
= -T~S< Sel0N' gre" OUT OF an llIegltmate