Laird v. German Savings Bank

In November, 1908, the plaintiff was the owner and holder of a certain promissory note, executed by W. H. & F. 0. Rood, for the sum of $3,000, bearing interest at 6 per cent. This note was past due and unpaid, and was secured by a chattel mortgage, executed by the makers of the note, on certain personal property owned by them. ^ In order to save a foreclosure of the mortgage,’ it was agreed between the plaintiff and Rood Bros, that the property covered by the mortgage should be offered for sale at public auction, in the name of Rood Bros.; that the plaintiff should receive the proceeds of…