Schwanz v. Farmers Co-Operative Co.

On or about April 15, 1924, Herman and Cora B. 'Sehwanz, his wife, executed and delivered to intervener Lorimor' State Bank, Lorimor, Iowa, two promissory notes for $2,500 each, securing the payment thereof by a chattel mortgage upon certain live stock and all increase thereof. The property was owned by the mortgagors and appellant in partnership, and the mortgage purported to cover only the undivided interest of the former therein. On July 25th following, Herman Schwanz filed a voluntary petition in bankruptcy, attaching a schedule of the mortgaged property and setting out the mortgage.…