Fallows v. Continental & Commercial Trust & Savings Bank
Supreme Court of the United States
APPEAL FROM THE CIRCUIT COURT OF APPEALS FOR THE SEVENTH CIRCUIT. The facts, which involve the validity arid priority of liens on property of the bankrupt of judgment .creditors and holders of notes secured by mortgage on personal property, and the construction of the laws of Illinois relating to such mortgages, are stated in the opinion.
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APPEAL FROM THE CIRCUIT COURT OF APPEALS FOR THE SEVENTH CIRCUIT. The facts, which involve the validity arid priority of liens on property of the bankrupt of judgment .creditors and holders of notes secured by mortgage on personal property, and the construction of the laws of Illinois relating to such mortgages, are stated in the opinion. Appellant’s trust deed was invalid as against the bankrupt, and as against ordinary contract creditors, and had it not been for the entry of the order preserving the lien of the judgment creditors, and subrogating the appellee to all rights thereunder, this…
1Opinion of the CourtJustice McReynolds
Bonds amounting to twenty thousand dollars were issued to Fallows, Trustee, by The Tengwall Company, October 7, 1905, payable fifteen years thereafter. To secure them a trust deed or mortgage covering all its personal property was executed and duly recorded in Cook County, Illinois, November 1, 1905; an affidavit for the extension of this was filed October 5, 1908; and a second one October 6, 1909. On June 3, 1910, it gave promissory notes to sundry creditors aggregating more than twenty-five thousand' dollars; the same day the holders took judgments thereon by confession in the Superior…
2Cases cited2 opinions
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- Courtney v. Fidelity Trust Co.Court of Appeals for the Sixth Circuit · 1914
- Campbell v. WhiteSupreme Court of Arkansas · 1988
- Great Western Stage Equipment Co. v. IlesCourt of Appeals for the Tenth Circuit · 1934
- Taubel-Scott-Kitzmiller Co. v. FoxSupreme Court of the United States · 1924
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