Litz v. Exchange Bank
Supreme Court of Oklahoma
Error from the District Court of Woods County; before J. L. Pancoast, Trial Judge. STATEMENT OR FACTS. On April 35th, 1895 JohnR. Covey executed and delivered his promissory note to the Exchange Bank of Alva, in the sum of $1451.40 due ninety days after date, and to secure the payment thereof executed a chattel mortgage to said bank upon one hundred and fortyr-seven head of cattle. On May 14, 1895, said John E. Covey was killed.
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Error from the District Court of Woods County; before J. L. Pancoast, Trial Judge. STATEMENT OR FACTS. On April 35th, 1895 JohnR. Covey executed and delivered his promissory note to the Exchange Bank of Alva, in the sum of $1451.40 due ninety days after date, and to secure the payment thereof executed a chattel mortgage to said bank upon one hundred and fortyr-seven head of cattle. On May 14, 1895, said John E. Covey was killed. On May 15, 1895, the bank proceeded to take possession of the cattle covered by-said mortgage. On the 17th or 18th of May, 1895, the bank gave the statutory notice of…
1Opinion of the Court
Opinion of the court by
Hainer, J.:
The question presented to this court is, whether or not the holder of a chattel mortgage, who in good faith deems himself insecure, after the death of the mortgagor, who dies intestate, before the debt is due, and prior to the appointment of an administrator, either a special or general, can take possession of and sell the property covered by said mortgage.
This action is based upon section 1603 of Wilson’s Annotated Statutes of Oklahoma, of 1903, which provides as follows :
“If any person before the granting of letters of testamentary or of administration,…
2Cases cited1 opinion
- Cocke v. MontgomerySupreme Court of Iowa · 1888
3Cited by19 opinions
- Simons v. Brashears Transfer and StorageSupreme Court of Oklahoma · 1959
- Aultman & Taylor MacHinery Co. v. FussSupreme Court of Oklahoma · 1922
- Smith-Wogan Hardware & Imp. Co. v. BiceSupreme Court of Oklahoma · 1912
- Noble v. Ft. Smith Wholesale Grocery Co.Supreme Court of Oklahoma · 1911
- Shawnee Nat. Bank v. Van ZantSupreme Court of Oklahoma · 1921
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