Securities Acceptance Corp. v. Hansford

The opinion of the court was delivered by

Price, J.:

This is a replevin action brought by Securities Acceptance Corporation, a corporation, to recover possession of a 1951 Mercury automobile, or the claimed value thereof, based upon the alleged default by defendant owner of the terms of a chattel mortgage executed by defendant to Schoonover Motors, Inc., a corporation, (hereinafter referred to as Schoonover) and assigned to plaintiff.

The petition, omitting formal parts, alleges that plaintiff has a special ownership and interest in the described automobile under and by virtue of a…