United States of America v Prioleau
| Jurisdiction | England & Wales |
| Judgment Date | 01 January 1865 |
| Date | 01 January 1865 |
| Court | High Court of Chancery |
English Reports Citation: 71 E.R. 580
HIGH COURT OF CHANCERY.
S. C. 35 L. J. Ch. 7; 13 L. T. 92; 11 Jur. (N. S.) 792; 13 W. R. 1062. See The Beatrice, 1866, 36 L. J. Adm. 9; Smith v. Weguelin, 1869, L. R. 8 Eq. 214; Republic of Peru, v. Dreyfus, 1888, 38 Ch. D. 361; West Rand Central Gold Mining Company v. R. [1905], 2 K. B. 411. For subsequent proceedings, see L. R. 2 Eq. 659.
Foreign Government. De Facto Government.
[559] united states of america v. prioleau. 1865. [S. C. 35 L. J. Ch. 7 ; 13 L. T. 92; 11 Jur. (N. S.) 792 ; 13 W. R. 1062. See The Beatrice, 1866, 36 L. J. Adm. 9; Smith v. Weguelin, 1869, L. It. 8 Eq. 214; Republic of Pen, v. Dreyfus, 1888, 38 Ch. D. 361; West Rand Central Gold Mining Company v. R. [1905], 2 K. B. 411. For subsequent proceedings, see L. E. 2 Eq. 659.] Foreign Government. De Facto Government. Where a de facto insurrectionary Government raises funds by taxes and contributions: Held, that upon their subjection the proceeds pass to the re-established Government, subject to such contracts as the de facto Government may have entered into. Certain of the component States of the United States of America having seceded, and established a de facto Government under the style of the Confederate States of America, the Confederate Government raised funds by voluntary contributions and taxes, and thereby became possessed, as public property of their Government, of certain cotton. By an agreement dated the 7th of July 1864, between the Defendant, Prioleau, one of the members of a firm of Eraser, Trenholm & Co., carrying on business in Liverpool, of the one part, and M'Crae, who was an agent of the Confederate Government, of the other part, it was agreed as follows. Prioleau was to build eight steam-vessels, to be let out to hire to M'Crae, and to be employed in the transport of cotton from the Confederate States. The cargoes were to be consigned to Prioleau, to be sold by him according to instructions. Out of the proceeds all expenses of sailing the ships and otherwise in respect thereof were to be recouped and commission paid, and of the balance one-half was to be applied as M'Crae should direct, and the other half to be retained by Prioleau until the gross purchase-money of the vessels should be made up, and the vessels were then to be transferred to M'Crae as purchaser. The purchase-money was to be 20 per cent, in addition to the cost of building. M'Crae was to guarantee the safety of the...
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