Humphrey v. Mayfield

Citations

• 63 Kan. 208
• 65 P. 234
• 1901 Kan. LEXIS 120

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>Chattel Mortgage — Stock of Merchandise — Invalid. A chattel mortgage on a stock oí merchandise, containing stipulations that the mortgagor shall continue in possession and may sell all of the stock, without limitation as to whether it shall be for cash or on credit, and which gives him the option to buy other goods to keep up the stock, without fixing any standard of value or amount to which the stock shall be kept, and which provides that the moneys derived from sales, over and above what is necessary for expenses and to keep up the stock, shall be turned over to the mortgagee, is inoperative and void.</p>