24 Iowa 375 | Iowa | 1868
It is certified in the bill of exceptions, that there was evidence “tending to show that the plaintiffs were joint owners of the property replevied, and that one of the joint owners, viz., Henry H. Frans (one of the plaintiffs), had pledged the same to the defendants to secure a debt due from the said Henry H. to the defendants.”
The fourth instruction in the court’s charge was in this wise: “ If defendants, or either of them, knew at the time of the pledge that F. F. Frans was a part owner of the property, then the pledge by Henry for his own private debt would be void and give the defendants no right therein.”
These instructions make the validity of a pledge by one joint owner of a chattel depend upon knowledge by the pledgee of the existence of the other joint owner. The first instruction quoted affirms, that if the pledgee had no knowledge of the existence of the other joint owner, the pledge would be valid without his consent, though pledged for the individual debt of the part owner making the pledge.
The converse proposition is asserted in the fourth instruction. It states, that if the defendants u7mew at the time of the pledge that F. F. Frans was a part owner of the property, then the pledge by Henry for his own private debt, would be void and give the defendants no rigTvts tTierei/n,.”
In thus making the validity of the pledge depend wholly upon the knowledge or the absence of knowledge on the part of the pledgee of the existence of another joint owner, the court erred.
One joint owner cannot, as such and by virtue of that relation merely, sell or mortgage or pledge the interest of the other joint owner. The purchaser, mortgagee or
Each joint tenant has an equal right to possession. If one has the actual, peaceable possession, and pledges the property, though to a party with knowledge of the state of the ownership, such pledge is not void, but is good to the extent of the pledgor’s right; and the pledgee, during the existence of the pledge, has the same right to possession as against the other owner that his pledgor would have had, but no other or greater right.
A pledge by one joint owner being valid as to that owner’s interest, he cannot, during the existence of the pledgor’s rights, join with the other part owner, and the two, by virtue of such joinder, maintain replevin against the pledgee.
In full support of these views, and as to the rights of joint tenants against each other and third persons, see Russell v. Allen (13 N. Y. 173), holding that one tenant in common of personal property cannot maintain replevin
For the error above referred to, the judgment must be reversed. '
It is not necessary to notice the other questions made, except to say, that, if the plaintiffs had sued as partners, and claimed to recover as such, the rules of law applicable tvould be somewhat different. Thus, a partner has an implied authority to sell, mortgage or pledge the partnership property in the course of the partnership business. But a partner, even, cannot mortgage or pledge the firm property for his individual debts, without the consent of his copartner.
This observation is made concerning rights and powers of partners, because it would seem that there was some evidence tending to show that the property in question belonged to the plaintiffs as partners.
Never sed.