Emery v. Union Inv. Co. In Re Cotter

This appeal involves the validity of a chattel mortgage which secured a note given for the purchase of a motor vehicle prior to bankruptcy. The dispute arises between the trustee and mortgagee.

Loans were obtained by trustee’s bankrupt from appellee on three separate occasions. Notes and chattel mortgages were executed as security, and, with the original loan not being paid in full, the balance due was incorporated in the second and third loans. The first and second notes were marked paid and delivered to the bankrupt, but the chattel mortgages remained undischarged of record. The appellee is…