Tollerton & Stetson Co. v. Anderson
Supreme Court of Iowa
Appeal from Sioux District Court. — HoN. F. R. G-ayNOR, Judge. ONE John Ring, engaged in doing a general merchandise business at Hawarden, became financially embarrassed, and to secure his creditors executed a chattel mortgage on his stock of goods to the defendant A. G-. Anderson, another to the Northwestern State Bank,- and still another to plaintiff, on the same property, and also covering books of account.
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Appeal from Sioux District Court. — HoN. F. R. G-ayNOR, Judge. ONE John Ring, engaged in doing a general merchandise business at Hawarden, became financially embarrassed, and to secure his creditors executed a chattel mortgage on his stock of goods to the defendant A. G-. Anderson, another to the Northwestern State Bank,- and still another to plaintiff, on the same property, and also covering books of account. Plaintiff’s mortgage was made, by its terms* subject to the other mentioned mortgages on the stock, .and also subject to a-mortgage to one Hogan on the books of account. Anderson and…
1Opinion of the CourtWateemaN, J.
— There is no dispute as to the original order of priority of these liens. It is as we have stated.
1 The mortgages under which possession was taken contained a clause “that in case of default made in the payment of the above-mentioned promissory note, * * * or whenever the said mortgagees shall choose so to do, then, in that case, it shall be lawful for said mortgagee or his assigns, by himself or agent, to take immediate possession of said goods and chattels, wherever found, * * * and to sell the same at public auction or private sale, and either in bulk or by single article, and with or…
2Cases cited5 opinions
- Johnston & Son v. RobuckSupreme Court of Iowa · 1898
- Dickson v. ChornSupreme Court of Iowa · 1858
- Kennedy v. RobertsSupreme Court of Iowa · 1898
- Linscott v. LamartSupreme Court of Iowa · 1877
- Chaffee v. Atlas Lumber Co.Nebraska Supreme Court · 1895
3Cited by5 opinions
- Mason v. A. E. Nelson Cotton Co.Supreme Court of North Carolina · 1908
- Johnston v. ButterfieldSupreme Court of Iowa · 1923
- Singer Piano Co. v. Barnard, Walker & Co.Supreme Court of Iowa · 1900
- Gaumer v. Hartford-Carlisle Savings BankSupreme Court of Iowa · 1990
- Mason v. A. E. Nelson Cotton Co.Supreme Court of North Carolina · 1908