Chapman v. Allen Trustees

From the agreed statement of facts filed in the case it appears that the defendant and his wife borrowed a certain sum of money from the Farm Security Administration. As security for the loan a chattel mortgage was given. Later, in order to save the expense of foreclosure, the mortgagee consented in writing to the sale by the mortgagors of the property covered by the mortgage. It was stated in the instrument that by giving the consent the mortgage lien was not waived. The parties then executed a written agreement for a public sale of the mortgaged prop erty. It was therein provided that the…