Wagner v. Peace

HAYES, District Judge.

The claimant, Miss Stella L. Wagner, made a loan of $3,000 in money to A. T. Peace, bankrupt, on December 22, 1931, and received from the bankrupt a chattel mort*900gage on a stoek of merchandise and certain enumerated fixtures securing repayment of the loan in ten days. It was understood and agreed between the parties that the bankrupt was to remain in the possession of the stoek of merchandise and sell the same, although there was no provision in the mortgage requiring the mortgagor to account to the mortgagee for the proceeds of sale.

At the time of the execution of the…