Cresbard Grain Co. v. Farnham

MISER, C.

Cresbard Grain Company, plaintiff and appellant herein, sold a motortruck to defendant Farnham. It took and filed a mortgage on the truck to secure the note given for part of the purchase price. Before the maturity of the note, defendant Farnham sold and delivered the truck to defendant Smoot, who had knowledge of the mortgage lien. 'While defendant Smoot was operating the truck, and before the maturity of the note, defendant Schull' negligently collided with and demolished the mortgaged truck. Prior to the collision, the truck was worth more than the amount of appellant’s mortgage…