Diemer v. Guernsey
Supreme Court of Iowa
Appeal from Tama District Gourt. — Hon. G. W. Burn- ' ham, Judge. Plaintiee brings this action in equity for judgment,, and to foreclose a chattel mortgage executed to him July-6, 1896, by Ed.
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Appeal from Tama District Gourt. — Hon. G. W. Burn- ' ham, Judge. Plaintiee brings this action in equity for judgment,, and to foreclose a chattel mortgage executed to him July-6, 1896, by Ed. S. Joselyn, on a certain stock of merchandise and store fixtures tó secure the payment of six promissory notes made at different dates between August -i, 1893, and July 6, 1896, inclusive, aggregating $2,000, and a second mortgage executed July 23, 1896, on the same-property, to secure the same debt, made to correct errors supposed to exist in the first. G. Y. Goodell, assignee of Ed.. S. Joselyn for…
1Opinion of the CourtGiven, J.
1 *3962 *395I. There is no question but that Ed S. Joselyn is indebted to each of these creditors in the amounts •claimed, except as to the last of the six notes executed to the plaintiff. This note was executed July 6, 1896, for ■$1,000, and we are satisfied that it represents a bona fide indebtedness. The several claims being thus established, we now inquire as to the rights of these mortgagees under their respective mortgages, and, first, as to whether the appellants Guernsey & Johnson are entitled to a lien under their mortgage as against the other mortgages. In August, 1893, Ed. S. Joselyn…
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