Kyte v. MacIvor

This is an appeal by the garnishee defendant from a judgment against it upon trial of the statutory issue.

The garnishee defendant held the note of the principal defendant, secured hy collateral pledge of 1,212 shares of stock of the J. A. Maclvor Lumber Company, with power of sale without notice. After service of the writ of garnishment the note fell due and the bank sold the shares of stock at private sale to J. A. Maclvor Lumber Company for the amount due it from the principal defendant, and made disclosure to such effect. Plaintiff demanded trial of the statutory issue, and upon trial…