The Federal Reporter with Key-Number Annotations, Volume 250: Cases Argued and Determined in the Circuit Courts of Appeals and District Courts of the United States, August-October, 1918. Page: 41
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GEORGE V. OSCAR SMITH & SONS CO.
GEORGE v. OSCAR SMITH & SONS CO. et al
In re CRAWFORD.
(Circuit Court of Appeals, Fifth Circuit. March 18, 1918.)
1. MORTGAGES 4=2-WIHAT LAW GOVERNS-D)ELIVERY.
Where notes and a deed of trust to secure them were executed in the
state of the borrower's residence, and forwarded with draft attached for
the amount of the loan to the residence of the lender, where they we e
delivered on payment of the draft, the deed of trust and the notes did
not become effective until delivery, so that the contract was consummat-
ed in the state of the lender's residence.
2. UsurY 4=2(3)-CONTRACTS--WIIAT LAW GOVERNS.
Where, until delivery in Pennsylvania, a deed of trust on Mississippi
land and notes executed in that state did not become effective, the
Pennsylvania usury statutes instead of Acts Miss. 1912, c. 229, control
the validity of the transaction; for the contract, though to be performed
in Mississippi, was a Pennsylvania contract, over which the Mississippi
statutes had no control.
3. CORPORATIONS =657(3)-FOREIGN CORPORATIONS-CoNTRACTS--VALIDITY.
That foreign corporation had previously violated laws of Mississippi
by doing business in that state without authority does not render unen-
forceable contract made by such corporation in a foreign state, though it
was to be performed in MississippL
4. CORPORATIONs :=642(4)-FoaEIGN CORPORATIONS--DOING BUSINESS IN
Where a Pennsylvania corporation in that state made a loan secured by
a deed of trust on Mississippi land, the deed of trust, though executed
in Mississippi, being delivered in Pennsylvania on the corporation's pay-
Inent of a draft attached thereto, such corporation was not doing busi-
ness in Mississippi, so its failure to comply with the Mississippi statutes
prescribing conditions upon which foreign corporations might do business~
in the state would not preclude enforcement of the deed of trust.
Batts, Circuit Judge, dissenting.
Petition to Superintend and Revise and Appeal from the District
Court of the United States for the Southern District of Mississippi;
Henry C. Niles, Judge.
In the matter of the bankruptcy of V. L. Crawford. From a decree
which permitted the Oscar Smith & Sons Company and others to
foreclose a deed of trust given by the bankrupt, A. L. George, trus-
tee, appeals, and likewise petitions to superintend and revise. Af-
Henry P. Dart and William Kernan Dart, both of New Orleans,
La. (Benjamin W. Kernan and Henry P. Dart, Jr., both of New Or-
leans, La., on the brief), for appellant.
Robert H. Thompson, of Jackson, Miss., and Albert S. Bozeman,
of Meridian, Miss. (J. Harvey Thompson, of Jackson, Miss., on the
brief), for appellees.
Before WALKER and BATTS, Circuit Judges, and EVANS, Dis-
WFor Other eases see same topic & KEY-NUMBER in all Key-Numbered Digests & Indezes
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The Federal Reporter with Key-Number Annotations, Volume 250: Cases Argued and Determined in the Circuit Courts of Appeals and District Courts of the United States, August-October, 1918., legislative document, 1918; Saint Paul, Minnesota. (digital.library.unt.edu/ark:/67531/metadc38821/m1/56/: accessed December 11, 2017), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.