In re Diamond T. Truck Sales Agency of Oregon, Inc.

(after stating the facts as above). The question for decision turns upon whether the claim of petitioner was discharged by the agreement of the parties thus entered into; it being understood that the agreement has been fully executed and the $5,000 paid into the hands of the trustee. The bills of sale held by the mortgage company are, in effect, chattel mortgages to secure payment of the advances made to the bankrupt. It is obvious that the $5,000 was paid to the trustee as a consideration for the transfer of his title and interest in the automobiles and trucks. His interest was simply the…