The Chickasaw messenger. (Okolona, Miss.) 1880-1900, 1881-03-10
FORM No. n

egal gentlemen understood TO in-
volve the validity Of the ITsseut
form Of Deeds Of Trust. and 81 once
our enterprlsing friends 81 the Clai-
ion set themselves 70 work g get up I
a form which their legal adviser
thinks will supply gho defect pointed
out by the Supreme Court in the
case Of A. j. Paxton vs. Myers,
Weis 4 Co. Il appears that Lens
field, the assignor Of Myers, Weis a !
Co, had taken two decd oftrost op-l
on tenants Of Paxton, and had (
charged them Cor goods 90 to 1901
per cent pront, besides q per cent
commissions for advancing and l0l
per cent. interest after the maturity
Of the trust, There being an alleged
failure on the part Of Lensfeld to
furnish the necessary supplies Pax
ton made advances, and when the
cotton Was sold applied The proceeds
to the payment Of bis own claim,
and refused to pay any part OF
the claim held by Myer, Wels & Go.
as assignees Of Lensdeld. "There-
upon they filed bin in Chancery to
enforce their claim, making Paxton
and the tenants defendantst" One
point raised before the Chancellor
was that no specific price for The
goods was fixed by the deedsIOf
trust, and that oHIg afreasonabEe
price could be reeorersd, and. the
Court 50 held. The case was appeal
ed to the Supreme Court, and Mr..
Justice George in passing upon this
point says fetasuof csc rift3s
@The Chancellor rightly declined
TO hold the purchasers boand bf the
prices agreed on at the time or the
purchases. Proof Of the pfiet
agreed on is competent, and
would ordinarily control, IN the all
sence Of fraud or imposition. Here
the prices charged were exorbitant
The parties we're not on equal terms
the purchasers we're not in a condii
zion TO be free TO decline thepurchas,
OF the supplies on account Of Oh,
prices charged, and they acquiesceC
10 the prices from an ovesrulin9 ne
oessitJ, Tbeir extorted assent I,
the prices fixed was without cOhsid
Grafton and void"
Chief Justice Chalmers in his con
curing opinion uses The following
language 3s
"A vendor may in selling proberti
to an insolvent person Oh credit, b'
special agreement, charge such Bifct
as ne pleases OH account Of the IN.
creased risk bat where be has en-.
tered into a contract to furnisl
goods, without specification as {,
price, and that price is to boixed n
the courts upon a qpantam vqle6dt
the pecuniary condition Of the bdye
can not be considered hs
In this decision the court YER
plainly declare that tho mcrchan
shall not charge more than areason
adj price for goods sold under al
ordinary deed Of trust, bpt the Ian
gpage Of the Chief Justice, which v.
have italicized, implies that II tn
Vepdor desires to SOU zee the poo
fellows, whom he may entiee int
his tolls, he must have a "speoia
agreement" embodied ii the trust
A careful examination Of form No
II, 50 literally advertised BY Messfs
Power q Barksdale, viii satisIy an
one that the material difference be
tween It and the form generally 81
use, is that it contains a clause whicl
is designed to enable Che seller t
collect whatever price, however *
Orbitant, bis eupidily might exae
from the Strengthened necessities Q
his debtor, provided he could extor
assent at the time Of The delivery q
the goods. 1t seems to Us that th
labor Of the astute legal adviser Q
the Clarion, in perfeeting form Nc
IL, and the trouble the proprietor
Of the State organ have taken I
copyright it, will likely 90 for paughi
Fair minded creditors. will be salts
fed with the old form so long IN ust
under which they can enforce IN
collection Of the 'cdstomary rate
charged by dealers aud paid BY cue
tomers,f and the poor nan Ebo sol
mits 20 the demand Of a tradesmau
unwilipg 70 accept the old FORM hal
vigns bis name to tie Ciari5nis q BOP
ular fora No. H. simply eiyes thl
merchant the power to charge hin
any price lie pleases for goods 70
having given deed Of trust, Ne esI
buy from no one else than The hold
er Of that instrument, and II Die fap
fly needed barrel Of lour lie men.
chant could charge him twenty dol
lars forit, ifhe ehoseto do so. and III
poor debtor would be compelled [,
agree 20 the price, and having agreed
form No. II would enforce tie oul
rageous exaction We advise oil
merchants 70 take no stock ia forn
No. II, forif We do not misiaterpre
is legal import, the very fact lliat
tradesman used It would excite
suspicion that be intended 10 extof
ton upon every victim, 50 uaforlu
nate as to fall ialo bis clutches
Ia conclusion We desire 70 say tia
some Of the best legal talent o. ID,
State are now considering this deed
oftlaa question, and n they deem il