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Torres vs. Limjap: Chattel Mortgage Case by cmv mendoza is a document available to read on EtoBox.

What is Torres vs. Limjap: Chattel Mortgage Case about?

This document summarizes a court case regarding two chattel mortgages on drug stores. The court found that: 1) The defendant had defaulted on interest payments for loans secured by the mortgages, violating the mortgage terms. 2) Because of the default, the plaintiffs were entitled to possession of the drug stores covered by the mortgages. 3) A stipulation in the mortgages allowing the mortgagor to sell goods and replace them extended the mortgages to cover after-acquired property, as this was necessary

Author

cmv mendoza

Language

EN