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FRANKLIN INVESTMENT CO. v. HOMBURG

No. 4364.

252 A.2d 95 (1969)

FRANKLIN INVESTMENT CO., Inc., a corporation, Appellant, v. Edwin P. HOMBURG, Appellee.

District of Columbia Court of Appeals.

Decided April 3, 1969.

Attorney(s) appearing for the Case

Bernard D. Lipton, Washington, D. C., for appellant.

James D. Newton, with whom William F. Hickey, Silver Spring, Md., was on the brief, for appellee.

Before HOOD, Chief Judge, and MYERS and FICKLING, Associate Judges.

MYERS, Associate Judge:

In March, 1966, appellant Franklin Investment made a loan to Agar Motors, an automobile dealer, and took as security a chattel mortgage covering, among others, a 1961 Chevrolet, the automobile in question. A financing statement outlining the transaction was duly recorded.

One month later, appellee Homburg bought the car from Agar Motors for cash, which issued a check to Franklin Investment for its release, and received in exchange the...

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