Smith v. Schey

Decided March 18, 1902

Appellate Court of Illinois · decided 1902-03-18

Foreclosure, of a chattel mortgage in chancery. Appeal from the Circuit Court of Cook County; the Hon. Edward F. Dunne, Judge, presiding. Heard in the Branch Appellate Court at the March term, 1901. June 16, 1896, appellees executed seven promissory notes, for the total sum of $265, to E. Smith; the same date appellees executed a chattel mortgage upon all their household effects to secure these notes.

Relies on Hogan v. Akin · Sellers v. Thomas

Reversed and remanded with directions · Decided 1902-03-18

Me. Justice Waterman

¶1delivered the opinion of the court.

¶2The provisions of the act of July 1, 1895, entitled, “An act to regulate the assignment of notes secured by chattel mortgages,” applies only to chattel mortgages the notes secured by which have been assigned, and is not applicable to mortgages like the one in question, wherein the secured notes are held by the mortgagee. The chattel mortgage under consideration is therefore not void. Hogan v. Akin, 181 Ill. 448; Sellers v. Thomas, 185 Ill. 384.

¶3The decree of the Circuit Court is reversed and the cause remanded, with directions to enter a decree in accordance with the prayer of the bill.

¶4Reversed and remanded, with directions.