Utica Trust & Deposit Co. v. Decker

This action was brought to foreclose a chattel mortgage upon two automobiles, specifically described in the mortgage, one of which was sold by the mortgagors to the defendant Decker and one to the defendant Foote, each of whom was a purchaser for value, having no actual knowledge of the existence of the mortgage. The defendant Decker answered asserting (1) that the mortgage was null and void because of the failure of the mortgagee to post the sign and file the notice specified in section 45 of the Personal Property Law (Cons. Laws, ch. 41), and (2) that the plaintiff was estopped by its…