(Download) "Miller v. Tiffany" by United States Supreme Court * eBook PDF Kindle ePub Free
eBook details
- Title: Miller v. Tiffany
- Author : United States Supreme Court
- Release Date : January 01, 1863
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 58 KB
Description
Walker, another resident of Fort Wayne, who had been 'engaged in trading goods for about seven years, railroading some, and a part of the time engaged in outside trading,' confirmed this estimate between invoice and cash values; adding, 'the principal objections to the stock were, that the goods were badly selected; large amounts of some kinds, and a few or none of others to make them saleable. A considerable quantity of them were out of style, which is a bad objection in selling goods. Part of the goods were worth more than the invoice price, and a part of them less, making the average value about two-thirds invoiced price.' Gilford, who was a clerk of Miller, when the goods arrived at Fort Wayne, thought that 'the general character of the goods was not very good. The goods were principally old styles, and was a hard stock to sell, and the majority of them were billed to Miller at too high prices for retailing purposes. They were worth, in my opinion, about sixty cents on the dollar.' As respected the matter of usury. It appeared that Mr. Hough, an attorney of Fort Wayne, where Miller lived, was employed by Wallace, on his visit to Fort Wayne, to draw the papers in the case. In giving an account of the circumstances under which the note was made payable, Hough's testimony was, that on the morning of the day when the note was drawn, Miller introduced him to Wallace. The witness stated as follows: 'The note and mortgage were drawn up in my office on the 22d of February, 1858. I first wrote a note payable in New York for the amount specified, with ten per cent. interest, upon which some conversation ensued between Wallace and Miller, when Miller remarked in substance that he would rather pay it to Wallace: 'I know you, Wallace; you are a clever fellow; I would rather pay you, as I don't know Palmer;' and asked if it could not be paid in Cleveland, adding that he expected to trade there, and it would be easier for him to pay it in Cleveland. Upon the request of Miller, Wallace wrote a note, and made it payable at the Commercial Branch Bank at Cleveland, which was and is the residence of Wallace.' There was no evidence to contradict this, except so far as it might be found in a correspondence between Palmer in New York and Wallace in Cleveland. Palmer, after concluding the negotiation with Rufner and Turner (Miller's agents in New York), gave Rufner, then on his way through Cleveland to Fort Wayne, an open letter to Wallace–the one already mentioned, and dated 15th February, 1858 and to be delivered by Rufner to him. It ran thus: 'This will be handed to you by Mr. Rufner, one of the parties who have been negotiating with me for the purchase of part of our stock of goods here; the purchase-money to be secured by mortgage on Mr. Miller's property at Fort Wayne. My proposal to them is, to sell $20,000 of our goods, at our regular prices to the country, at six months' credit, and to receive in pay therefor, a bond and mortgage on Mr. Miller's property,–provided it affords satisfactory security for the amount, and the title is undoubted; the mortgage to be the first lien on the property, and payable on or before five years, bearing ten per cent. semiannual interest; the first interest to be payable in twelve months from the date of the delivery of the goods here; the principal and interest to be payable here,' etc.
 "Miller v. Tiffany" by United States Supreme Court * eBook PDF Kindle ePub Free){kind=link}