Gray

is an action to foreclose a 'chattel mortgage on the furniture of a lodging-house in the city of San Francisco.

On the 19th of May, 1886, Mrs. Laura Brotherton was the owner of the property, and on that day sold it to Helen F. Gleason for the sum of five thousand five hundred dollars, two thousand five hundred dollars of which was paid in cash, and the balance in three promissory notes for ten hundred dollars each, and payable respectively in two, four and six months after date. On May 19, 1886, the mortgage and notes were transferred to C. K. Goodwin, and on July 3, 1886, he transferred the same to the plaintiff Gray for the consideration of two thousand eight hundred dollars, thirteen hundred dollars of which was paid in cash, and the balance in three notes for five hundred dollars each, payable one year after date. The defendant Helm is an attaching and judgment creditor of Mrs. Brotherton, his attachment having been levied on June 4th, and judgment entered December 6,1886. Mrs. Brotherton filed her petition of insolvency on January 3, 1887, and on February 7th the defendant Seligman was elected an assignee of her estate.

The court found—the facts being within the issues…