Owens v. Oregon Livestock Loan Co.

The facts are: April 22, 1930, five individuals named Fargher made and delivered to Oregon Livestock Loan Company 13 promissory notes aggregating $30,500, payable to that corporation October 24, 1930. Payment of the notes was secured by a chattel mortgage which subjected to its lien severál thousand sheep, their increases, 30 horses, a quantity of wool, a growing crop and some farm machinery, all located in Wasco county and owned by the Farghers. The mortgage was properly recorded. The mortgagee sold all except one of the notes. The plaintiff is the owner of two of the notes and the assignee…