Carr v. Stencel

Tbe receiver of the plaintiff bank filed this bill in equity to obtain an accounting and for a decree requiring payment of a note held by the bank against defendant Stencel. The note in question was secured by a chattel mortgage. It was given December 8, 1932, for $500 payable April 8, 1933. On the same date another note for $1,600 due August 8, 1933, was given by Stencel to Harry J. Holbrook, trustee. Payment of this note was secured by the same chattel mortgage. Also on the same date a third note in the principal sum of $1,110, payment of which was secured by the chattel mortgage, was given…