Dean and Another, Assignees of Prince (A Bankrupt) v McGhie and Another
| Jurisdiction | England & Wales |
| Judgment Date | 25 November 1826 |
| Date | 25 November 1826 |
| Court | Court of Common Pleas |
English Reports Citation: 130 E.R. 685
IN THE COURT OF COMMON PLEAS, AND OTHER COURTS
S. C. 12 Moore, 185; 5 L. J. C. P. (O. S.) 44: at Nisi Prius, 2 Car. & P. 387.
[4fl] dean and another, Assignees of Prince, a Bankrupt, v. M'GrHiE and another. Nov. 25, 1826. [S. C. 12 Moore, 185; 5 L. J. C. P, (0, S.) 44: at Nisi Prius, 2 Car. & P. 387.] By the mortgage of a ship, accruing freight passes to the mortgagee, notwithstanding 6 Q. 4, c. 110, s. 45, which enacts that the mortgagee shall not be deemed owner, except for the purpose of making a transfer. Assumpsit against the Defendants as brokers employed by Prince to collect sums of money due to him. Breach ; the not rendering to him or hia assignees a true and just acooant of the monies collected by them. There were also counts for money had and received to the use of Prince, and to the use of the Plaintiffs as assignees, and on accounts stated with Priuce and with Plaintiffs as assignees. Plea, general issue, with notice of set-off, At the trial before Best C. J., London sittings after Trinity term last, the facts were as follow: In November 1825, Prince, the owner of the ship "Rosalind," being already indebted to R. L. Chance, borrowed 40001. more of him, and by way of security transferred to him by bill of sale the ship " Rosalind," then on her voyage home from Honduras, and certain policies of insurance effected upon her. The habendum was, to " have and to hold the said ship or vessel and policies thereby assigned unto and by the said R. L. Chance, his executors, administrators, and assigns, subject" to a proviso for redemption on payment of 80001. with interest on the 16th of January 1826. If failure were made in the payment, Chance was authorized to aell the vessel under a power of sale. The money not having been paid, a captain employed by Chance, on the 26th of January 1826, took possession of the vessel on her return home, about seven miles below Graresend ; and his brokers gave notice to the [46] parties who had goods on board, and claimed the freight from them. Chance having put up the ship for sale, and the seamen being clamorous for their wages, the defendants paid the portage bill, amounting to 5201., and including the seamen's wages, by a draft obtained from Chance for that purpose; and Chance then sold the ship under the power of sale, to cover his claim against Prince, which amounted to 72461. Prinee was...
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