| Woods v. Carstairs |
1777
|
Bargain, Loan, Ranking of Creditors |
This case concerns a promised wheat shipment from Robert Fleming, tenant in Falside, to James and William Woods, merchants in Elie. In January 1777, Fleming wrote the Woods brothers about his circumstances. He offered to send them "all the wheat that I have" in exchange for an advance of money. The Woods brothers sent Fleming about £9 in cash and approximately £30 in bills. Fleming then sent the Woods sixteen bolls of wheat, promising to deliver the remainder after seed-time. However, before this could happen, Fleming's affairs went into disorder, and he applied for a sequestration of his effects. The Woods then applied to James Carstairs, Fleming's factor, for the remainder of the wheat. Carstairs replied that the money Fleming had received from the two men was not a bargain, but a loan, and informed them that they would have to wait for the ranking of Fleming's creditors. The Woods then petitioned the Court to order Carstairs to deliver the wheat to them. As opposed to Carstair's claim that the transaction in question was a loan, the pursuers argued that it was a bargain. |
