Willows v. Rosenstien

Citations

• 5 Idaho 305
• 48 P. 1067
• 1897 Ida. LEXIS 21

Syllabus

<p>Chattel Mortgage — Agreement to Continue Mortgage as Security Aeter Fully Paid — Section 3351 oe the Revised Statutes Construed. — The plaintiff gave to defendant a chattel mortgage to secure an indebtedness of some $341. Subsequently plaintiff and his copartner becoming indebted to defendant, they jointly executed to the defendant a chattel mortgage upon property belonging to the firm for the sum of $1,215, in which was included the amount of said first mortgage of $341. The mortgage for $1,215 was subsequently paid in full. By an agreement between plaintiff and defendant the latter was, however, to hold said first mortgage as security for an individual indebtedness existing and to arise from future advances to be made by defendant to plaintiff. Such agreement is contrary to the provisions of section 3351 of Revised Statutes of Idaho. Evidence reviewed and found to support the verdict.</p> <p>(Syllabus by the court.)</p>