Sperry v. Clarke
Supreme Court of Iowa
Appeal from Webster District Court; — Hon. D. D. Miracle, Judge. ■ On the second day of February, 1885, the firm of Thompson & Thompson was doing business at Dakota City, in Humboldt county, and were owing the plaintiffs $2,193.92, and to secure the same made their mortgage conveying a stock of merchandise, and also their books of account and accounts due and to become due *, and the mortgage was on the same day properly filed for record in Humboldt county.
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Appeal from Webster District Court; — Hon. D. D. Miracle, Judge. ■ On the second day of February, 1885, the firm of Thompson & Thompson was doing business at Dakota City, in Humboldt county, and were owing the plaintiffs $2,193.92, and to secure the same made their mortgage conveying a stock of merchandise, and also their books of account and accounts due and to become due *, and the mortgage was on the same day properly filed for record in Humboldt county. The accounts were left in the hands of Thompson & Thompson, under an agreement that they should collect the same and remit to the…
1Opinion of the CourtGranger, J.
— I. The first question presented in argument for our consideration is, will the clause in the mortgage as to the accounts be construed as an assignment, or a mere pledge as security ? We think the instrument on its face settles that question. It is said in argument by appellants that “ the instrument itself bears the intent of the parties.” Let us refer to it. It says: “We have bargained and sold * * * our entire stock of dry goods, * * * situate in Mrs. A. B. West's store building in Dakota City; * * * also our books of account, and accounts due and to become due, "• * * to have and to hold…
2Cases cited1 opinion
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