Navajo Live Stock & Trading Co. v. Gallup State Bank
New Mexico Supreme Court
Appeal from District Court, Bernalillo County; H. F. Raynolds, Judge; Action by tbe Navajo Live Stock & Trading Company against tbe Gallup State Bank. Judgment for defendant, and plaintiff appeals.
1Opinion of the Court
OPINION OP THE COURT.
ROBERTS, J.
On February 28, 1916, tlie Navajo Live Stock & Trading Company, appellant herein, exe-ented and delivered to Emma Franklin its two demand notes for $17,500, which notes were secured by a chattel mortgage on all the live stock owned by said corporation. Emma Franklin owned practically all of the capital stock of the corporation. Thereafter the corporation borrowed $20,000 from the Gallup State Bank, appellee herein, which notes were not payable until some time after November 25, 1916. To secure the payment of these notes Emma Franklin assigned and transferred to…
2Cases cited2 opinions
- Flores v. StoneCalifornia Court of Appeal · 1913
- Woodward v. LutschWashington Supreme Court · 1912
3Cited by17 opinions
- Pentecost v. HudsonNew Mexico Supreme Court · 1953
- Albuquerque Gas & Electric Co. v. CurtisNew Mexico Supreme Court · 1939
- Alfred v. AndersonNew Mexico Supreme Court · 1974
- Yellowstone Sheep Co. v. EllisWyoming Supreme Court · 1939
- Burns v. FlemingNew Mexico Supreme Court · 1944
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