Rennet v. Mathieson [1903] ScotLR 40_421 (04 March 1903)

Rennet v. Mathieson [1903] ScotLR 40_421 (04 March 1903)

The transaction was a loan secured over moveables, not a genuine sale; as no delivery was made to Mathieson, property in the plant remained with Bisset & Wyllie and passed to the trustee under the trust-deed.

Citation
[1903] ScotLR 40_421
Parties
Pursuer/respondent/trustee: Ernest Rennet; Defender/appellant/landlord: John Mathieson; Original Debtors/tenants: James Bisset and Alexander Bisset (Bisset & Son, formerly Bisset & Wyllie)
Jurisdiction
Scotland
Judgment Date
04 March 1903
Procedural Posture
Appeal / Final Judgment by Court of Session Inner House Second Division
Outcome
Appeal dismissed; interlocutor appealed against affirmed.
Legal Topics
Security Over Moveables, Sale Vs Security, Trust Deed for Creditors, Delivery of Goods, Sale of Goods Act 1893
Commercial Law Property Law Insolvency Law Security Over Moveables Sale Vs Security Trust Deed for Creditors Delivery of Goods Sale of Goods Act 1893

Case Brief

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Parties

Ernest Rennet

Pursuer/respondent/trustee

John Mathieson

Defender/appellant/landlord

James Bisset and Alexander Bisset (Bisset & Son, formerly Bisset & Wyllie)

Original Debtors/tenants

Procedural Posture

Appeal / Final Judgment by Court of Session Inner House Second Division

Legal Issues

  1. 1 Whether the transaction between Bisset & Wyllie and Mathieson was a genuine sale or a loan secured over moveables
  2. 2 Whether property in the plant passed to Mathieson or remained with Bisset & Wyllie and their trustee
  3. 3 Validity of security over moveables without delivery

Ratio Decidendi

The transaction was a loan secured over moveables, not a genuine sale; as no delivery was made to Mathieson, property in the plant remained with Bisset & Wyllie and passed to the trustee under the trust-deed.

Court Disposition

Appeal dismissed; interlocutor appealed against affirmed.

Orders

  • Refuse prayer of petition as regards gas-engine; declare respondent trustee owner of plant and machinery (excluding gas-engine); grant interdict against defender interfering with possession; award expenses to respondent.