Andrew v. Hanson

Hanson & Tyler was a copartnership engaged in the automobile business at Webster City... Said firm was indebted to the Hamilton County State Bank, and said indebtedness was secured by chattel mortgage on certain automobiles belonging to said firm. The firm desired to secure, a new con tract with an automobile company, which involved the return of the automobiles covered by said .chattel mortgage. It became necessary for the firm to make a substitution of securities at said bank, to effectuate the release of the cars. This they undertook to do by executing a note to the bank with sureties…