Moore
Moore v. Bay
Opinion
Lead Opinion
Norcross, J.
This is an appeal from an order made by the court below reversing a ruling of the referee in bankruptcy holding a certain chattel mortgage void as to all creditors.
The facts are stipulated, and those material are as follows: At all times important to be considered in this ease Sassard & Kim-ball, Inc., was a corporation engaged in the business of a merchant selling automobiles, automobile parts and accessories. On the 31 st day of December, 1929, the corporation filed a voluntary petition in bankruptcy, and on the same date appellant was appointed receiver for the estate of the bankrupt, and upon qualifying, took into his possession all property claimed to be a part of the estate, including that covered by a certain chattel mortgage in question. On November 23, 3928, the bankrupt executed a chattel mortgage as security for the payment of a certain promissory note for $10,000, payable thirty days after date to the assignor of appellee. The mortgage was acknowledged of date November 30, 1928, the affidavit of good faith was executed December 5, 1928, and the instrument hied for record and recorded by the county recorder of Los Angeles county on December 19, 1928. The chattel…