Altoona State Bank v. Hart

The opinion of the court was delivered by

Benson, J.:

The appellant, Hart, sold a laundry plant to J. W. Mordy, on August 1, 1905, and took from him a chattel mortgage upon the property to secure the consideration. Mordy was at that time an employee of the appellant in the laundry, and immediately took possession of it. On June 1, 1906, he asked the bank for a loan of $600 to pay off the mortgage. Hart went with him to the bank, and to induce its officers to loan the money stated to them that $600 would clear the plant of all indebtedness and pay all that Mordy owed thereon, and that • he…