202 F. 1008 | D.N.D. | 1913
The International Harvester Company supplied to the above bankrupt eight manure spreaders under a conditional sale contract, bearing date February 23, 1910, which articles
“An unrecorded mortgage leaves tlie property as open to seizure by creditors upon a writ of attachment or execution against the mortgagor, as if no mortgage existed.”
He collects the authorities and shows that the rule confining the right to subsequent creditors is limited to a few states. See, also, First National Bank v. Ludvigsen, 8 Wyo. 230, 56 Pac. 995, 57 Pac. 934, 80 Am. St. Rep. 928; Pierson v. Hickey, 16 S. D. 46, 91 N. W. 338; Karst v. Gane, 136 N. Y. 316, 32 N. E. 1073.
To hold that the trustee derives his rights from the creditors of the particular estate, instead of the statute, would greatly embarrass the 3¿ministration of estates in bankruptcy. It would require first an investigation to ascertain what credit was given subsequent to the unrecorded instrument. This in mercantile cases would be a difficult in