State Ex Rel. Horsey v. Maryland Casualty Co.

A certain Gordon C. Piley, who was an automobile dealer, was indebted to one Marjorie P. Coffone in the sum of $4,000, and, for the purpose of giving her a lien to secure the payment of this indebtedness, executed and delivered to her, on July 24th, 1925, what was in form a bill of sale, but what was in reality and in equity a mortgage, whereby he bargained and sold certain goods and chattels for a purporting consideration of $4,000. The instrument was duly recorded and assigned for value by the mortgagee to T. Clayton Horsey on January 3rd, 1927. The goods and chattels, which were not sold…