Cooper v. Labuda

Plaintiff Virginia Cooper is the mortgagee in a chattel mortgage, executed by Frank J.' LaBuda as mortgagor on November 4, 1938. This mortgage was given to secure the payment of a promissory note in the sum of $500, with 6 per cent, interest thereon. The mortgage was duly recorded and covers personal property located in a beer tavern then owned and operated by LaBuda.

Subsequently one Fred Teichman, Jr., became LaBuda ’s partner, the venture was unsuccessful, LaBuda filed a bill in chancery for the dissolution of the partnership, and a receiver was appointed. The partnership had a number of…