Day v. Sines

Citations

• 15 Wash. 525
• 46 P. 1048
• 1896 Wash. LEXIS 241

Syllabus

<p>ASSIGNMENT POR BENEFIT OP CREDITORS — DELIVERY OP DEED TO ASSIGNEE— CHATTEL MORTGAGE — ACCEPTANCE BY CREDITOR — DELIVERY.</p> <p>The delivery of a deed of assignment to the assignee for the purpose of having him indorse thereon his acceptance of the trust and its return by him to the assignor for the purpose of having it recorded by the latter, does not constitute such a delivery as will give the deed priority over chattel mortgages which had been duly executed, delivered and recorded prior to the record of the deed of assignment.</p> <p>The leaving of a fully executed chattel mortgage with the attorney for the mortgagee constitutes a delivery to the latter.</p> <p>Where a debtor has been requested by creditors to give them security upon his property whenever it shall become necessary to protect their interests, the execution by him and placing of record of chattel mortgages in their favor will be presumed to be with their consent and consequently effective as a valid delivery.</p>