C. I. T. Corp. v. Furrow

The facts are not in dispute. One Brechler bought the automobile in question on August 10, 1937, signing a conditional sales contract which was immediately assigned to the plaintiff. This contract was not recorded until May 31st following. Meanwhile defendant had taken his mortgages. The first was dated May 2d for the sum of $284.80. On May 20th the second mortgage was executed in the sum of $450. Both were filed before plaintiff’s contract went on record. Prior to the transactions narrated, Brechler was indebted to the defendant and an associate on a contract by which he undertook to…