Meyer v. Martin

On February 18, 1930, Alva G. Martin, a farmer, was indebted to the Fisher State Bank, in Champaign county, in the principal sum of $1598 and executed his promissory note, payable one year after date, with interest at seven per cent per annum, to secure which he also executed a chattel mortgage which covered three mules, one horse, seven cattle, four hogs, one automobile, eighteen farm implements, and also 800 bushels of corn, fifteen tons of straw and three tons of hay. This mortgage contained the following clause: “Also conditioned that the mortgagor may retain possession of the said goods…