51 Tenn. 625 | Tenn. | 1871
delivered the opinion of the Court.
Atkinson being indebted to Sarah A. Smith in the sum of about $1,300, she filed her attachment bill against him as an absconding debtor, and had the attachment levied on a stock of goods in the hands of ~W. T. Tinkle. Atkinson and Tinkle were made defendants. The former failed to answer, and the bill was taken for confessed. Tinkle answered and claimed that he was in possession of the goods as a pledge to secure several notes held by him against Smith & Toombs, who had sold the goods to Atkinson. The notes so held on Smith & Toombs amounted to $929. The proof shows that the invoice price of the stock of goods sold by Smith & Toombs to Atkinson, amounted to about $2,300, and that the notes held by Tinkle on Smith & Toombs, were given for a portion of the same stock of goods sold by Tinkle to Smith & Toombs. The depositions of Smith & Toombs were taken, they prove that they sold the goods to Atkinson; the contract was, that Atkinson was to pay for the goods in different installments, but the Tinkle debt he was to pay down in cash. That when the trade was made, the goods were delivered to Tinkle & Atkinson. Their understanding was that Tinkle was to
The transaction was nothing more than a private agreement of Atkinson, that he would pay the debt due to Tinkle by Smith & Toombs. This agreement amounting to a verbal mortgage, had no validity as against the creditors of Atkinson.
It follows that complainant obtained a prior lien on the goods by. the levy of her attachment. The Chancellor so held, and we affirm his decree with costs.