Hezel v. Schatz

Citations

• 17 S.D. 211
• 95 N.W. 926
• 1903 S.D. LEXIS 29

Syllabus

<p>A chattel mortgage on certain cattle was given to secure the mortgagee for. his agreement to pay certain .notes given by the mortgagor to a third person. The cattle were in the possession of defendant under a contract to care for them for three years for, half their increase, and the mortgagor’s interest in this contract was.assigned to the mortgagee, also for security. The mortgagee never paid any part of the notes, and stated that he took the mortgage for the payee of the notes. Held, that there was no consideration for the mortgage and assignment, so that the mortgagee could not recover from defendant on his turning the cattle over to the payee of the notes with the consent of the mort* gagor.</p>