Myhre

This suit, brought by the Myhres against the Bank of North Idaho, Inc., in the United States District Court, prayed recovery for specified personal property.

*889 The appeal here was taken by the Federal Deposit Insurance Corporation 1 from the judgment of the District Court, which ordered that the money judgment therein granted “is entitled to the priority as a trust fund in the order of payment of the debts of the original defendant,” and directed the Receiver, substituted for the original defendant, Bank of North Idaho, 2 to allow this priority.

From the record and findings made in the trial court, the facts below set forth are drawn. The Myhres borrowed Fifteen Hundred Dollars from the Bank on November 10, 1953. To secure the indebtedness, the Myhres gave a chattel mortgage to the Bank, which failed adequately to describe the property. The Myhres later gave a bill of sale to the Bank for a portion of this property. As an integral part of this last transaction, a written agreement between these parties was executed, which in part provided that the Bank was to sell the property at the best price obtainable, deduct the sums owing to the Bank, and turn the balance over to the…