Inland Finance Co. v. J. B. Ingersoll Co.

The J. B. Ingersoll Company, a corporation, on October 1, 1920, owned an automobile truck. On that date it placed the truck in storage in a warehouse, taking a warehouse receipt, by the terms of which it was agreed by the warehouse company to deliver the truck to the J. B. Ingersoll .Company, or order, upon the surrender .of the receipt and payment of the storage charges. Qn April 12, 1921, the owner of the truck executed and delivered to Charles L. Coif-man its promissory note in the sum of $3,Q00, due in thirty days, and at the. same time gave a chattel mortgage on the truck to seeure the…