National Bank v. Lovenberg
Texas Supreme Court
Appeal from Galveston. Tried below before the Hon. Wm. H. Stewart. I. Lovenberg, statutory assignee of Carl Schwarz, brought suit against appellant to recover -the value of a stock of goods, notes, book accounts and choses in action of the value of $30,000; alleging that all of said property had been legally conveyed and transferred to him by Carl Schwarz by deed of assignment, and had been previously owned by said Schwarz, and daily exposed to sale by him in the regular…
Read the full summary
Appeal from Galveston. Tried below before the Hon. Wm. H. Stewart. I. Lovenberg, statutory assignee of Carl Schwarz, brought suit against appellant to recover -the value of a stock of goods, notes, book accounts and choses in action of the value of $30,000; alleging that all of said property had been legally conveyed and transferred to him by Carl Schwarz by deed of assignment, and had been previously owned by said Schwarz, and daily exposed to sale by him in the regular course of business. That, after the execution of the deed of assignment, the goods and choses in action were duly delivered…
1Opinion of the Court
Willie, Chief Justice.
We think it clear that the instrument executed by Carl Schwarz in favor of the bank is a chattel mortgage providing on its face for a lien upon a stock of goods and dioses in action, to secure the payment of an indebtedness due from Schwarz to the bank.
“The mere fact that an instrument does not contain terms of defeasance cannot be at all decisive in determining the question whether it shall be considered a mortgage or not. If from the entire instrument, either standing alone or read in the light of surrounding circumstances, it appears to have been given as a security,…
2Cases cited1 opinion
- Cooper v. BrockMichigan Supreme Court · 1879
3Cited by18 opinions
- Reagan v. AikenSupreme Court of the United States · 1891
- Wilcox v. DillardCourt of Appeals of Texas · 1927
- Scott v. McDanielTexas Supreme Court · 1887
- Wilber v. Gus. J. Kray & Co.Texas Supreme Court · 1889
- Avery Sons v. WaplesCourt of Appeals of Texas · 1898
13 more not listed; retrieve them via the Exa API.