People's First Nat. Bank of Quitman v. Coe Mfg. Co.

HUTCHESON, Circuit Judge.

In February, 1930, appellee Coe Manufacturing Company, retaining title to secure the unpaid purchase money, sold to one Reinsehmidt, a manufacturer of staves, part of the heavy machinery for a veneer plant. To evidence and secure the unpaid purchase money, Reinsehmidt executed his several notes, reciting the title retention agreement. These instruments were, in March, 1930, acknowledged before a notary public and filed for record. At about that time the machines were installed in a building, or shed, upon concrete foundations set up for the purpose of receiving them.

In…