Boston Mutual Life Insurance v. Power Manufacturing Co.

In 1920 E. W. Langham purchased a Primm oil engine at a cost of $6,600, which was installed on his rice farm as a necessary part of a pumping plant required to grow rice. He borrowed money from the Deming Investment Company -in 1922, with a portion of which he paid the balance of the purchase money then due on the engine, and he secured this loan by mortgages on his farm to the investment company, which the latter, on March 2,1922, assigned to the Boston Mutual Life Insurance Company.

The engine was used for the purpose intended until 1923, when the engine house enclosing it was destroyed by…