SIMONS, Circuit Judge.
The single issue to be decided is whether a title retaining contract executed in Illinois on a chattel having its situs in Michigan at and before the vendee's bankruptcy preserves a valid lien against the vendee's trustee though unrecorded, when like contracts are required to be recorded in Michigan, but not in Illinois.
The appellant is the lien claimant. By contract, concluded on February 17, 1931, in Chicago, it sold a motion picture...
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