National Bond & Investment Co. v. Union Investment Co.

Defendant, a finance corporation, furnished a dealer with automobiles on the floor plan, so-called, and accepted and duly recorded a chattel mortgage on each car. The dealer sold one of the mortgaged automobiles to Yaughn Harrison under a conditional sales contract and note and then assigned the contract and note to plaintiff. Defendant seized the. automobile under its chattel mortgage, and plaintiff replevined and had judgment. Defendant reviews by appeal, presenting the issue of right of priority between the two finance corporations. Rights of the purchaser' of the car from the dealer are…