Industries Sales Corp. v. Reliance Manufacturing Co.

This is an appeal from a judgment of the Circuit Court of Jackson County, dismissing a petition to vacate an execution sale of chattels. The case involves issues pertaining to the legality of the sheriff’s levy, notice of sale, and sale; a gross inadequacy of consideration; the effect, upon creditors of the trustee, of the Uniform Trust Receipts Act as to unrecorded trust receipts; and the standing of the entruster to attack the sale.

On November 17, 1960, appellee, Reliance Manufacturing Company (Reliance), obtained in the Circuit Court of Jackson County a default judgment in the amount of…