Hines v. Strong

Headnote

Bailment—conversion of pledged property — interest.

Plaintiff’s evidence showed that he delivered a watch to defendant to secure a loan of §82. Defendant’s evidence showed that the watch was sold him for $82, he agreeing to re-sell it to plaintiff for $87. Held, that the jury were justified in finding the transaction to he a pledge and not a sale. Held, also,

there being no evidence of an agreement to pay interest on the sum loaned, the $5 difference between $82 and $87 must be held to be in lieu of interest and the tender of the latter sum sufficient to enable plaintiff to bring an action for the conversion of the watch.