WALKER, Justice.
The rights of the parties to this appeal turn upon the existence and relative priority of the liens they assert against a 1957 Mack truck tractor owned by one A. D. Falls. Their claims, which fall into three categories, arose in the following manner:
In July and October, 1960, Falls borrowed a total of $3,500.00 from or through George D. Hipp, respondent, and used the same for a down payment on the tractor and a trailer. Respondent was president...
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