Court Opinion

ID: 9831395
Source: CourtListenerOpinion
Date Created: 2023-09-01 21:03:14.661159+00
Date Added: 2024-06-11T07:43:34.278248
License: Public Domain

On Motion for Rehearing.
We desire to correct the statement in the original opinion, characterizing the lien of Hamilton upon the 23 head of cattle as an agister’s lien. Upon the testimony of Hamilton, and upon a finding of the jury, the record develops a pledgee’s lien, secondary, of course, to the mortgage lien, but the change of the form of the security does not assist the appellant in the case.
It is true that an actual delivery usually accompanies and constitutes a pledge of personal property; but, where property is already in the hands of a pledgee, an agreement that it may be held as collateral security by the person who has the possession still constitutes the transaction a pledge. Jones on Pledges, § 25, p. 20.
On the question of the benefit to Harp, based upon the record, to sustain a consideration to him, as the promisor to pay the debt of another, the testimony of his declarations of his interest, though of a general nature, added to his own testimony that he was behind the mortgage, coupled with the acquisition of the possession of the cattle, for the purpose of consummating a sale of the cattle made by himself and Morgan to Cox (a right which was theretofore not possessed), are amply sufficient for that purpose..
The motion for rehearing is overruled.