92 Iowa 207 | Iowa | 1894
The plaintiff claims to own, and to be entitled to the immediate possession of thirty-seven steers by virtue of a chattel mortgage executed to it by L. W. Fiske & Son on the twenty-third day of February, 1885, and recorded two days later. The defendant claims the steers under a chattel mortgage executed to her in September, 1885, and recorded during the same month, and alleges that, when it was given, she had neither actual nor constructive knowledge of the mortgage to the plaintiff. She further claims that the record of the mortgage did not impart constructive notice, for the reason that the plaintiff is a copartnership, of which John C. Hall, the notary public- who took the acknowledgment of the mortgage, was, at the time it was taken, a member. The plaintiff, in reply, alleges that defendant is estopped to deny notice of the mortgage given to it, for that in November, 1886, she accepted from L. W. Fiske & Son a chattel mortgage on the property in controversy to secure the indebtedness which was secured by the first mortgage to her; that the second mortgage was given and accepted as subject to the mortgage of plaintiff, and that in accepting it, defendant took possession of, and holds, the property in controversy subject to the lien of the plaintiff’s mortgage. This is the third appeal in this cause. See 79 Iowa, 216; 44 N. W. Rep. 362; 87 Iowa, 363, 54 N. W. Rep. 435. On the second trial the district court found that the plaintiff was a partnership when the
All the allegations of the petition and reply not admitted are in substance that L. W. Fiske & Son executed the mortgage under which the plaintiff claims; that they owe it the amount which the mortgage was given to secure; that the property included in the mortgage to the defendant is not the same as that mortgaged to the plaintiff; that the mortgage of 1886 was given and accepted by the defendant subject to the mortgage to the plaintiff; “that in the giving of said mortgage and the taking of the same by defendant the defendant thereby agreed and took possession and holds the property in controversy under said mortgage, dated November 8, 1886, subject to the lien of plaintiff’s mortgage, and the payment of the indebtedness