Cases argued and decided in the Supreme Court of the State of Texas, during the Austin term, 1885, and the early portion of the Tyler term, 1885. Volume 64. Page: 40
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40 HORNE v. CHATHAM & Co. [Austin Term,
Opinion of the court.
from its execution, that it is void as against a subsequent purchaser
or mortgagee for value and without notice. Now assuming that to
the extent of the interest purchased by the Carver Gin and Machine
Company, it was a purchaser for value and without notice; and
that any previous transfer that Horne might have made of that
particular interest, which had not been recorded as required, would,
as to that company, be invalid, still that does not determine the
question under consideration; for in recurring to the transfer from
Horne to the company, it clearly appears that it was not the patentright,
but only the interest that Horne then had in it, which was
assigned to the company. Horne's previous transfer to appellees of
an undivided half interest in the patent-right, though not recorded,
was valid as to the parties to it. In other words, by that transfer
Horne had divested himself of that undivided interest. And when
he conveyed to the company, his interest was limited to an undivided
half. But it is claimed that Horne represented to the company
that he owned the entire interest. Suppose that he did; while
such representation might constitute a fraud upon the company, for
which it might maintain an action against him, still it is not believed
that such representation would have the effect of enlarging
the terms of his conveyance, so as to pass an interest of which he
had previously divested himself.
On the 21st day of July, 1882, the Carver Gin and Machine Company,
Chatham & Co. and Horne, entered into a written agreement
in substance, that, by assignment of even date, Chatham & Co. were
put into the possession of the patent-right for the state of Texas
exclusively, and the Carver Gin and Machine Company to the exclusive
right in the balance of the territory of the United States.
Horne was also to expend $1,000 in perfecting the patent and purchasing
other competing patents. Upon the same day Chatham &
Co. transferred by quitclaim or release to the Carver Gill and Machine
Company their interest in the patent to all the territory in the
United States, except the state of Texas. On the same day the
Carver Gin and Machine Company, for the expressed consideration
of $1, assigned to Chatham & Co. all interest in the northeast portion
of the state of Texas; which Horne consented to and approved.
Also, at the same time, an agreement was made by and between
Horne and Chatham & Co., by which, in consideration of an agreement
of even date, the royalty to be paid to Home by Chatham &
Co. for all gins sold in the state of Texas after January 1, 1883,
was fixed at eighteen and three-fourths cents per saw.
In their answer appellees claimed of Home one-half the proceeds
received and to be received by him from the Carver Gin and Ma
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Texas. Supreme Court. Cases argued and decided in the Supreme Court of the State of Texas, during the Austin term, 1885, and the early portion of the Tyler term, 1885. Volume 64., book, 1886; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth28510/m1/64/: accessed April 19, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .