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MONTAGUE BROS. v. W. C. SHEPHERD CO.

No. 235.

58 S.E.2d 118 (1950)

231 N.C. 551

MONTAGUE BROS., Inc., v. W. C. SHEPHERD CO., Inc., et al. (BANK OF MANSFIELD, Intervenor).

Supreme Court of North Carolina.

March 22, 1950.

Attorney(s) appearing for the Case

Scott B. Berkeley, Goldsboro, for plaintiff-appellee.

James N. Smith, Goldsboro, for defendant W. C. Shepherd Co. and intervenor, Bank of Mansfield, appellants.

ERVIN, Justice.

Chattel mortgages and conditional sales are nearly allied to each other. Poindexter v. McCannon, 16 N.C. 373, 18 Am. Dec. 591. For this reason, G.S. § 47-20, which covers chattel mortgages, and G.S. § 47-23, which embraces conditional sales, prescribe identical requirements for their recording. These statutes expressly provide that a chattel mortgage or a conditional sale of tangible personal property is valid as against creditors or purchasers...

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