Universal Discount Corp. v. Brooks

— The appellant, Universal Discount Corporation, brought an action against the defendant, Hoosier Brake Lining Corporation, to recover on a promissory note for $6,000 representing money loaned, and to foreclose a chattel mortgage on certain personal property of the defendant given to secure said note.

In another action later filed against the defendant by Nashua Package Sealing Company, a Receiver was appointed for the defendant with its consent, and the two causes were consolidated. Thereafter, by agreement of all parties, the mortgaged property was sold by the Receiver free of liens, the…