Commercial State Bank v. Interstate Elevator Co.

Citations

• 14 S.D. 276
• 85 N.W. 219
• 1901 S.D. LEXIS 9

Syllabus

<p>1. A chattel mortgage on growing wheat, which described the land as 340 acres of wheat now in the possession of the mortgagor, in M. county, without specifying the town, range, or section, was not sufficient to impart notice to a bona fide purchaser of the grain, since it would place too great a burden on buyers to require them to ascertain, before purchasing grain offered for sale, what realty was in possession of a mortgagor.</p> <p>2.. wnere a chattel mortgage on growing grain was insufficient in not showing the township, range, or section of the land on which the grain was growing, the fact that the mortgage contained a particular description by section, town, and range of the mortgagor’s residence did not cure the insufficiency in describing the land.</p> <p>3. Laws 1897, Onap. 95, provides that every chattel mortgagee shall deliver to the mortgagor a full and complete copy of the mortgage, and that unless it appear on the instrument, over the signature of the mortgagor, that such copy was delivered, the mortgage shall be void. neZcZ, that the fact that the receipt, showing a delivery of a copy of the mortgage, was inserted in the body of the mortgage, and was signed before the execution of the instrument, did not render the mortgage void on the ground that it was not complete when the receipt was signed, since the object of the statute was merely to enable the mortgagor to detect any changes or alterations in the original instrument, and hence it was immaterial whether the receipt was inserted in the mortgage or was attache*., thereto after its execution.</p> <p>Fotler, P. J. dissenting.</p>