Albany Loan & Finance Co. v. Tift

1. An instrument in the form of a bill of sale may be so worded as to secure a present, past, or future indebtedness; that is, any or all of such indebtedness. Leffler Co. v. Lane, 146 Ga. 741 (92 S. E. 214); Skinner v. Elliott, 17 Ga. App. 511 (85 S. E. 759); Troup Co. v. Speer, 23 Ga. App. 750 (2) (99 S. E. 541). The notice under such a recorded lien does not appear to be limited to transactions inter partes (Bank of Cedartown v. Holloway-Smith Co., 146 Ga. 700, 92 S. E. 213), the rule with regard to third persons being that the lien for future advances must be indicated in the security…