MOBILE CREDIT CORP. v. MANUFACTURERS NATL. BANK

Calendar No. 4, Docket No. 50,541.

373 Mich. 432 (1964)

129 N.W.2d 849

MOBILE CREDIT CORPORATION v. MANUFACTURERS NATIONAL BANK OF DETROIT.

Supreme Court of Michigan.

Decided September 2, 1964.


Attorney(s) appearing for the Case

Sol J. Schwartz, for plaintiff.

Butzel, Eaman, Long, Gust & Kennedy (James D. Ritchie, of counsel), for defendant.


DETHMERS, J.

A boat dealer borrowed $4,500 from plaintiff and, on June 7, 1960, gave it, as security for the loan, a chattel mortgage on a boat. Before plaintiff filed the mortgage with the register of deeds, the dealer sold the boat to a bona fide purchaser for value without notice of plaintiff's mortgage and took back from the boat purchaser a note and chattel mortgage for $6,075.84. Next in sequence of events, plaintiff...

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