Central Sav. B. T. Co. v. Oil Field Supply S. Mat.

The defendant, Oil Field Supply and Scrap Material Company, a commercial co-partnership composed of J.H. Fuhrer and E.E. Wellin, residents of Rapides Parish, on May 15, 1940, sold to Lee Avenue Ice Company, owned solely by T.D. Livingston, resident of Ouachita Parish, certain chattels and to evidence the unpaid portion of the price, accepted the purchaser's note payable in installments over a period of twelve months. To secure payment of the note, the purchaser executed in favor of the seller and the future holders and owners of the note a mortgage on the chattels, which was duly recorded.…