First National Bank v. Hergert

Appeal by L. H. Labbitt from a decree of foreclosure of a chattel mortgage, executed to the First National Bank of Hardin by William Hergert, on personal property owned by Labbitt at the time of trial, subject to the mortgage.

In 1930, William Hergert, a sugar-beet raiser of Big Horn county, on lands belonging to another, was without funds for the production of a crop and had mortgaged his live stock, machinery, equipment and prospective crop for the season, to Labbitt. In April, 1930, in consideration of the agreement of the bank to finance the production of the season’s crop, without…