Matz v. Miami Club Restaurant

In April, 1926, a partnership composed of defendants Frank Merlo and Modesto Fabbri engaged in the restaurant business on North Grand Avenue in the city of St. Louis under the name of "Miami Club Restaurant." The restaurant equipment, furniture and fixtures were installed at an original cost of approximately $30,000 of which $10,000 was paid in cash and a promissory note for the balance of $20,000 was secured by a purchase money chattel mortgage upon the furniture and equipment. This note, paid in installments, was fully paid and discharged in January, 1931, and the chattel mortgage released.…