Oklahoma State Bank v. First Nat. Bank of Grandfield

MASON, 'J.

Th-is suit was filed by the Oklahoma State Bank of Frederick, Okla., on a note and chattel mortgage executed by D. M. McClain in favor of the Grandfield Hardware Company, and later transferred and assigned by it to''the Oklahoma State Bank. It is conceded that one J. J. Allen is the sole proprietor of the Grandfield Hardware Company. No contention is made but that said transfer was made for a valuable consideration before maturity and without any actual notice of any defects or irregularities therein.

The chattel mortgage purported to cover the 1921 crop grown by McClain, and in this…