Morris Plan Bank v. Cook

SOPER, Circuit Judge.

J. H. Eggleston, who had been engaged in the jewelry business at Fayetteville, N. C., filed a voluntary petition in bankruptcy on January 19,1931. The Morris Plan Bank of Virginia, appellant in this court, filed proof of secured debt against the bankrupt estate in the sum of $4,500, representing the balance on a loan of $6,000 made by the bank on September 13, 1930. The transaction was evidenced by a promissory note of the bankrupt, and a deed of trust given to secure it, covering the fixtures, bills, and accounts receivable, and the stock of merchandise located in the…