Cleaves v. Herbert

Citations

• 61 Ill. 126

Syllabus

<p>1. Pleadings—evidence. • Under a plea of property in the defendant in an action of replevin, a chattel mortgage, the conditions of which have been broken, is admissible in evidence. Such a mortgage is sufficient to enable the mortgagee to recover the property in an action of replevin.</p> <p>2. Chattel mortgage—lien. The lien of a chattel mortgage is not lost because the mortgagee fails to take possession of the mortgaged property on the maturity of the first of a series of notes secured by the, mortgage, as he might do under Us provisions, but the lien continues until tlie last payment falls due. It is'optional whether the1 mortgagee will reduce the property to possession on default in the payment of any but the last instalment.</p> <p>3. Where the mortgage describes the property as a “stock of goods,” and provides tlrat the mortgagor may retain and use the same until default in payment: Held, that the use of the goods, consisting of liquors, etc., does not necessarily imply that the mortgagor may sell the same, although he was a trader in liquors; that wines and liquors are frequently kept in store to improve by age, as one of tlieir uses by the owner.</p>