In re Beede
District Court, N.D. New York
In Bankruptcy. The questions here are whether the trustee took title to the personal property of the bankrupt subject to the lien of a chattel mortgage thereon, or free and clear of same; and, if such property was subject to the lien of the mortgage, the amount thereof. Also, can creditors who were general creditors when the petition was filed and the adjudication made, but who have since perfected judgments against the bankrupt, assert their judgments against the mortgagee ?
1Opinion of the Court
RAY, District Judge.
Orlando Beede, the bankrupt, was engaged in the business of lumbering and running two stores. Prior to March 23, 1901, he had become heavily involved, and had called on his brother Fletcher S. Beede for help by way of indorsements, etc. This brother agreed to indorse his paper, but stated that he ought to have and wanted security, and Orlando promised to give him security, but no agreement was made as to its form or nature. Fletcher S. Beede then and thereafter, and before the mortgage in question was given, indorsed notes and gave accommodation notes for the benefit of…
2Cases cited20 opinions
- Mueller v. NugentSupreme Court of the United States · 1902
- Southard v. . BennerNew York Court of Appeals · 1878
- Stewart v. PlattSupreme Court of the United States · 1879
- Thompson v. . Van VechtenNew York Court of Appeals · 1863
- Karst v. . GaneNew York Court of Appeals · 1893
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3Cited by4 opinions
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