UNITED STATES SUPREME COURT DECISIONS ON-LINE

During the civil war, two citizens of the United States residing in loyal states could make a valid contract for the sale or mortgage of cotton growing on a plantation within one of the insurgent states, and such a contract would pass existing cotton on the plantation, and also crops to be subsequently raised thereon.

In Kentucky, the common law rule prevails that a sale of personal property is complete, and title passes as between vendor and vendee, when the terms of transfer are agreed upon, without actual delivery.

The contract in this case for the sale of cotton growing and to be grown did not come within the statute of frauds, and the only question to be decided is whether it was a contract of sale or a contract of mortgage.