Brooks v. Record

Citations

• 47 Ill. 30

Syllabus

<p>1. Estoppel—sale of chattels inpresence of mortgagee thereof Where a mortgagee of personal property, not in possession, is present at the sale of such property by the mortgagor to another, and such mortgagee, ,on being asked to fix the price between the mortgagor and purchaser, does so, but does not notify the purchaser of his mortgage, and the property was afterward delivered to the purchaser : Held, the mortgagee cannot recover the property as against such purchaser without notice.</p> <p>2. Assignee—of notes secured by chattel mortgage—-of his rights. When the holder of a’note, secured by chattel mortgage, assigns the same after maturity, in which security he has become divested of his legal rights, by reason of his own laches, the assignee, after maturity, is also divested of the same rights, for the assignee can take no higher or better title as against a purchaser without notice, than the assignor himself had.</p>