First National Bank of Corning v. Reid
Supreme Court of Iowa
Appeal from Adams District Court. — Hon. H. M. Towner, Judge. Prior to July 1, 1893, the defendant Beid was engaged in the agricultural implement business in Corning, Iowa.
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Appeal from Adams District Court. — Hon. H. M. Towner, Judge. Prior to July 1, 1893, the defendant Beid was engaged in the agricultural implement business in Corning, Iowa. On the 1st day of November; 1892, Beid and the Bock Island Plow Company entered into a written contract by the terms of which the plow company sold to Beid fifty hay loaders, at $50 each, to be delivered in 1893. It was stipulated in the contract that the ownership of the hay loaders should remain in the plow company until they were paid for. Fifteen hay loaders were shipped to Beid on the 14th, and thirtyrfive on the…
1Opinion of the CourtSheRWIn, J.
No question as to the hay loaders is involved in the controversy between the First National Bank and the plow company. The plow company con-1. withholding mortgage from record fraud. that the mortgage to this bank was fraudulent because it was withheld from the record, and, because thereof, that its mortgage on the general stock is entitled to priority. The mere withholding of the mortgage from record, however, would not be fraudulent, and to make it so as to the plow company it was necessary to prove that, during the time it was so withheld, the plow company extended credit to Reid without…
2Cases cited14 opinions
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- Tolbert v. HortonSupreme Court of Minnesota · 1884
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- Garner v. FrySupreme Court of Iowa · 1898
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