Jewell Pure Water Co. v. Kansas City Towel & Laundry Co.
Missouri Court of Appeals
Appeal from the Jackson Circuit Court. — Hon. J. H. Slover, Judge. (1) As the sale under a chattel mortgage is for the benefit of the mortgagee, if he sees fit to give credit to a purchaser, it is not ground for avoiding the sale. The mortgagee who sells for credit must account for the amount of the sale as cash. Williams v. Hatch, 38 Ala. 338; Warren v. His Creditors, 3 Wash.
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Appeal from the Jackson Circuit Court. — Hon. J. H. Slover, Judge. (1) As the sale under a chattel mortgage is for the benefit of the mortgagee, if he sees fit to give credit to a purchaser, it is not ground for avoiding the sale. The mortgagee who sells for credit must account for the amount of the sale as cash. Williams v. Hatch, 38 Ala. 338; Warren v. His Creditors, 3 Wash. St. 48. (2) Harkness & Eussell had an undoubted right to purchase at the sale, as the mortgage gives them that right. Parker v. Eoberts, 116 Mo. 657; Clarkson v. Mullin, 52 Mo, App. 622. Presented an able argument on…
1Opinion of the CourtSmith, P. J.
Statement. — The Kansas City Towel & Laundry Company, which, for convenience, will hereafter be designated the laundry company, exe_ . _ cuted to its general manager a mortgage covering its entire plant to secure certain notes aggregating $4,100, which, notes were transferred to the garnishees whom we shall hereinafter refer to as mortgagees. The laundry company made default in the payment of the said notes at maturity and thereupon the mortgagees, under the power conferred by the terms of the mortgage, proceeded to sell the' laundry plant at public vendue. Immediately after the sale the…
2Cases cited2 opinions
- Parker v. RobertsSupreme Court of Missouri · 1893
- Clarkson v. MullinMissouri Court of Appeals · 1895