104 Iowa 523 | Iowa | 1898
The firm of Johnston & Son, consisting of Joseph and O. P. Johnston, were engaged in the general mercantile business at Knoxville, and on June 14, 1895, executed a chattel mortgage on their stock of goods to Henry Watkins and William Robuck, securing the payment of a note of five thousand, four hundred dollars, to the former, payable June 14,1896, and a note to the latter of three thousand, two hundred dollars, due September 14, 1896. Thereafter, though on the same day, the firm executed a second mortgage to Wil-Tiam Robuck, securing the payment of a note of three hundred and thirty-two dollars, due September 14, 1896, and another note of four thousand, five hundred and fifty-nine dollars and thirty-six cents, signed by Johnston & Frush, which had matured January 6,1894, The notes referred to represented debts of Johnston & Son, except the last, which Joseph Johnston, a member of the firm of Johnston & Frush, had assumed and agreed to pay. On the following day, Johnston & Son