Church v. First National Bank

The facts here involved are stipulated. In May, 1927, plaintiff’s assignor, Jesse Church, owned a one-half interest in a boat subject to a chattel mortgage held by the defendant bank. At that time Margaret Seaman was a judgment creditor of Jesse Church to the amount of $889.25. She caused execution to be levied on his interest in the boat and at the execution sale she purchased the same for $100. Jesse- Church and his attorney were present at the sale and claimed Church was entitled to an exemption of $250. 3 Comp. Laws 1915, § 12858, subd. 8 ($350 by 1929 amendment [3 Comp. Laws 1929, §…