Summary

Portrait of Stephen Johnson Field Stephen Johnson Field Thompson v. White Water Valley Railroad Company…

Here the same rule applies; and not only the rails, but those permanent fixtures which are essential to the successful operation of the road, become a part of the property of the company, as much so as if they had existed when the mortgage was executed. The doctrine that a vendor, not taking security for the price of realty sold by him, holds in equity a lien upon the property for such price, is not controverted, but it has no application to the present case.
Source: Wikisource

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