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The petitioner executed a chattel mortgage to secure payment of deficiencies from his erroneous appraisal of jewels while working as an appraiser at a pawnshop. The pawnshop filed a case to recover the amount owed. The petitioner argued the chattel mortgage was void as against law, morals, and policy. The court ruled the mortgage was valid, finding that (1) there was sufficient consideration as it was voluntarily executed to guarantee deficiencies; (2) requirements of the applicable law were complied with;

Author

jrvyee

Language

EN