Lewis v. D'Arcy

Citations

• 71 Ill. 648

Syllabus

<p>1. Chattel mobtgage—rights of mortgagee when property is levied on unden' execution against mortgagor. Where a chattel mortgage provided that the property therein mentioned should remain in the possession of the mortgagor until the indebtedness thereby secured became due, unless the mortgagee should, for any reason, feel unsafe or insecure, and elect to take immediate possession, it was held, that a levy upon the goods by an officer, and taking possession of the property under an execution against the mortgagor, gave the mortgagee a clear right to treat the condition of the mortgage broken, and to reclaim the possession, both as against the mortgagor and the officer making the levy.</p> <p>2. In such case, the mortgagee, upon taking possession, would be compelled to offer the property for sale at once, and when his debt was satisfied, the remainder would be subject to the levy made by the officer.</p>