Nat'l Bank of Detroit v. Alford

On April 22, 1974, a judgment of no cause of action was entered against plaintiff and on August 21, 1974, plaintiffs motion for new trial was denied. It is from that denial plaintiff appeals.

Plaintiff bank loaned $50,000 to Voyager Detroit, Inc., to finance an airplane. In order to secure the loan, Voyager Detroit executed a chat tel mortgage and promissory note in favor of plaintiff. Defendants executed a guaranty to plaintiff.

Plaintiff first filed for recordation of the chattel mortgage with the Federal Aviation Authority (FAA) in December of 1966 but it was not actually recorded until…