Graydon v. Atlantic Phonograph Co.

Citations

• 25 Ohio C.C. Dec. 260
• 17 Ohio C.C. (n.s.) 236
• 1910 Ohio Misc. LEXIS 423

Syllabus

<p>CHATTEL MORTGAGES — INSOLVENT DEBTORS— RECEIVERS.</p> <p>3. Debtor Privately Placing Property in Trust Preventing Creditor's Satisfying Claims not Valid.</p> <p>The private placing of the property of a debtor in trust in such a manner as to leave the grantor insolvent and prevent his creditors from exercising their right to pursue the property for the satisfaction of their claims can not be given validity by an honest intention to preserve the interest of the creditors by so doing and ultimately pay them off in full.</p> <p>.2. Unverified, Unrecorded Chattel Mortgage not Validated by Agree.ment to Treat Property as Realty.</p> <p>.An unverified and unrecorded chattel mortgage can not be rendered valid by an agreement between the parties to treat the property as real estate, where it is not in fact attached to the -realty.</p> <p>3. Receiver of Corporation Executing Unverified and Unrecorded Chattel Mortgage May Attack Validity.</p> <p>The validity of an unverified and unrecorded chattel mortgage may be attacked by the receiver of the corporation executing the mortgage.</p>