Contractual Issues Between North/South

[alan polk]

Tried to search this issue, but was unable to find this topic. Sorry if this topic has been discussed.

Before the war, southern corporations obviously had legal contracts with northern entities, commercial, securities, etc. I suppose any monies owed by southern corporations to northern lenders or manufacturers of goods promised before the war were simply negated and went unpaid once the south seceeded. I'm thinking, for example, many southern railroad corporations, who had borrowed money or took loans for equipment, funds, goods, etc.

Do any of you guys know how these issues were legally resolved after the war ended?

 

[rpkennedy]

There was a book written not too long ago that partially dealt with the relationship between Northern money and investments in the South and the Confederacy (the short answer is that money and property was confiscated). I'll have to look up the title a bit later as the name is escaping me at the moment.

R

 

[AndyHall]

There was a book written not too long ago that partially dealt with the relationship between Northern money and investments in the South and the Confederacy (the short answer is that money and property was confiscated)

Was that Phil Leigh's Trading with the Enemy?

 

[rpkennedy]

Was that Phil Leigh's Trading with the Enemy?

The author's name is ringing a bell but the title is not.

R

 

[alan polk]

There was a book written not too long ago that partially dealt with the relationship between Northern money and investments in the South and the Confederacy (the short answer is that money and property was confiscated). I'll have to look up the title a bit later as the name is escaping me at the moment.

R

Thanks. But if a northern manufacturing company contracted with a southern corporation to, say, deliver a steam engine to the southern corporation on a loan basis, war starts, payments cease, then the same steam engine is destroyed by Union troops during active war, what is the northern manufacturer's recourse? Look to the U.S. government for some sort of payment, insurance? Or did they absorb the loss alone or in combination?

 

[jgoodguy]

Thanks. But if a northern manufacturing company contracted with a southern corporation to, say, deliver a steam engine to the southern corporation on a loan basis, war starts, payments cease, then the same steam engine is destroyed by Union troops during active war, what is the northern manufacturer's recourse? Look to the U.S. government for some sort of payment, insurance? Or did they absorb the loss alone or in combination?

Lawsuit. The Southern Corporation still must make payments on the loan.

 

[alan polk]

Yes, thanks. I suppose I have not articulated my point well enough. Nonetheless, thanks for the responses.