Poulter v. Weatherford Hardware Co.
Poulter v. Weatherford Hardware Co.
Opinion of the Court
This suit was instituted by the Weatherford Hardware Company against Ed Poulter to recover a balance of $32.35 due upon a promissory note and to foreclose a chattel mortgage lien for the satisfaction of such balance, together with the amount of a judgment against the defendant in favor of Lowe & Co., which judgment had been purchased by the plaintiff. The honorable county judge, before whom the case was tried, rendered a judgment in favor of the plaintiff foreclosing the lien as prayed for', and the defendant has appealed.
We adopt the trial court’s findings of fact and affirm his judgment in so far as the same is personal, but reverse and render judgment in favor of appellant in so far as the judgment seeks to foreclose the chattel mortgage lien as to the Lowe & Co. judgment. The disposition of the case involves a construction of the chattel mortgage. That instrument, in so far as it is necessary to quote,, is as follows: “This conveyance is intended as a mortgage to secure the payment of my indebtedness to the said grantees in the-sum of two hundred and twenty-five dollars, as evidenced by seven certain promissory notes bearing even date with this mortgage, and more particularly described as follows: 1 note for $25 maturing August 1, 1911, 1 note for $25 maturing September 1, 1911, 1 note for $25 maturing October 1, 1911, 1 note-for $25 maturing November 1, 1911, 1 note-for $25 maturing December 1, 1911, 1 note for $50 maturing September 1, 1912, 1 note-for $50 maturing October 1, 1912, all bearing ten per cent interest from date and providing a collecting agent’s fee of twenty-five per cent, if not paid when due, or if sued upon, and payable at Weatherford, Texas,, and for all other amounts I may now be due, or hereafter become due to the Weatherford Hardware Company, or their assigns, such as-book accounts, notes, or in any manner whatsoever, it being the intention of this mortgage to not only secure the debt created by me this day, but also to serve as a basis-of credit with the grantees herein, or their assigns, to secure any other amount I may now owe, or hereafter owe, as if the same-were specifically described herein.”
The judgment of the county court foreclosing the chattel mortgage lien as to the Lowe & Co. judgment is therefore reversed and here rendered for appellant, but in all other respects the judgment is affirmed, except that appellant is awarded the costs below by reason of his tender of the full amount due on the mortgage indebtedness.
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