Cissna Loan Co. v. Baron

Cissna Loan Company, a corporation, plaintiff in this action, had, for many years prior to 1923, owned and operated “The Fair Department Store,” in the city of Bellingham, the corporation owning both the land and the building in which the business was conducted, as well as being proprietor of the department store itself. On May 24, 1923, plaintiff sold its stock of goods as a going concern to defendant, who paid a considerable portion of the purchase price in cash, giving a chattel mortgage on the stock to secure the balance, which chattel mortgage has been fully satisfied and does not enter…