National Live Stock Bank v. First National Bank

Citations

• 203 U.S. 296
• 27 S. Ct. 79
• 51 L. Ed. 192
• 1906 U.S. LEXIS 1592

Syllabus

<p>The proper .way to review judgments in actions at law of the Supreme Court of the Territory of Oklahoma where the case was tried without a jury is by writ of error, not by appeal.</p> <p>The objection that the Supreme Court of Oklahoma found no facts upon which a review can be had by this court is untenable, where it appears that the case was before that court a second time and that in its opinion it . referred to and adopted its former opinion in which it had made a full statement and findings of fact.</p> <p>The endorsement and delivery before maturity of a note secured by a chattel mortgage by the payee transfers not only the note but by operation of law the ownership of the mortgage which'has no separate existence; and such a chattel mortgage if recorded, although the assignment thereof was not recorded, remains a lien on the property, superior to that of subsequent mortgages even though the original payee may, without authority, and after the transfer, have released the same, if the law of the State in which the mortgage was given does not require the assignment of chattel mortgages to be recorded.</p> <p>Under the law of Kansas there is no statute making it necessary to record or file the assignment of a chattel mortgage in order to protect the rights of the assignee thereof.</p> <p>An assignee does not lose his rights under a mortgage by not recording or filing it, unless there is a law which either in express terms or by implication provides therefor; where there is no such statute it is not necessary, nor is it the duty of the assignee to record or file a mortgage.</p> <p>The rights of the holder of a chattel mortgage over the property after the same has been removed to another State are determined by the law of the State where the property was when the mortgage was given.</p>