Barber v. Smith

December 10, 1877, A. Byron Smith made a mortgage on a small stock of groceries in his possession, to defendant in error, professedly to secure payment of five hundred dollars in one year, and to indemnify defendant in error against liability incurred as *140surety, and also to secure him for advances and endorsements thereafter. It contained the usual provision authorizing actual possession to be taken by the mortgagee when he should deem himself insecure.

The mortgage was filed February 7, 1878, and four days thereafter the mortgagor gave a writing to the mortgagee, empowering him to take…