Schaeffer

Schaeffer v. Casey

Good Law
77 F.2d 808·1935 U.S. App. LEXIS 4713
United States Court of Appeals for the Ninth CircuitMay 20, 1935No. 7641California611 words

Opinion

Lead Opinion

Wilbur, J.

This is an appeal from an order of the District Court in bankruptcy approving an order of the referee which sustained the validity of a chattel mortgage. The jurisdiction of the court was invoked by a petition by the trustee to have the mortgage declared null and void, and also by the mortgagee’s petition in reclamation for the mortgaged property. The validity of the chattel mortgage was attacked by the trustee on the ground that it did not sufficiently describe the indebtedness secured thereby as required by sections 2956 and 2957 of the Civil Code of California 1 as construed by the Supreme Court of the state of California in Kahriman v. Jones, 203 Cal. 254 , 263 P. 537 . The promissory note executed by the bankrupt mortgagor for a loan of $750 was in . the usual form. A copy of the note set out in the original chattel mortgage which was certified by the recorder as having been recorded by him contained what purported to be a copy of the promissory note. It conformed to the note actually executed contemporaneously with the mortgage, with the exception that it stated, “principal and interest payable in gold coin of the United States,” whereas the promissory note separately but…

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