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Show """" - Page 2 . Sugar House, Utah January 22, 1958 INDEPENDENT by Richard J. Maughan. B.S., L.L.B. Between two hawks, which flies the higher pitch; Between two dogs, which hath the deeper mouth; Between two blades which bears the better temper; Between two horses, which doth bear him best; Between two girls, which hath the merriest eye; I have perhaps, Rome shallow spirit of judgment, But in these nice sharp quillets of the law, Good faith, I am no wise than a daw. King Henry VI Shakespeare Within the Seamless Web of the Law there exists so many of these "nice sharp quillets" meaning dead, and gage mean-ing pledge. So, by mortgage one pledges something of value as security for the performance of a duty, the mortgage becom-ing void upon performance of the duty. The duty may be one to pay back to the lender some money which has been borrowed this is the usual application. The Chattel Mortgage Now let us apply the words chattel and mortgage to the instrument we call the chattel mortgage. Sometimes people run short of money (proof of that state-ment is to be found in the ubi-quitous small loan company). Some people go to these small loan companies to get the cash they think they need. The loan company sometimes gives them the money, but sometimes-requi-res that they put up some security of which the loan com-pany can take possession of the person who borrows the money does not repay it. This security may be in the form of the house-hold furniture, the family car, the baby's crib, the rugs on the floor, the kitchen sink and stove, the refrigerator, madam's furs, the diamond rings, the TV, the radio, and the Hi Fi set, the that it behooves the man who enters into a contract to be more than casu-ally attentive to the details. In this column last week, it was suggested that the easiest and feast expensive I Kyi silver-plate- d silver service, the master's guns and golf sticks, his boats and shoats it could be one or all of these. Once the extent of the security is decided on the items pledged for repayment of the loan are listed on a printed document called a chattel mortgage. This document usually pro-vides that nothing will happen if all the payments required are made, and made on time. It also usually provides that if the provisions of the document are not followed strictly to the let-ter, then the mortgage may be foreclosed, and so much of the pledged security sold as is necessary to pay the debt. In many cases the sale of the entire kit and caboodle won't make the balance, and the poor borrower ends up without his security together with a deficiency judg-ment against him for the yet owing. It is not unusual for people to get into such a haste to pos-sess themselves of the cash that they fail to understand all the implications of the instrument which they are required to sign before the cash is forthcoming. The desire which promotes the haste without understanding usually results in an unpleasant meeting with those "nice sharp quillets of the law." Next week we will talk about another common credit instru-ment. See you then. way to guard Maughan against these quillets is to hire a lawyer among other things he will take time to read the fine print. The Chattel Mortgage Much of the credit business done today, is done by means of the chattel mortgage. Parti-cularly, is this so when small amounts of money are borrowed against some personal property, and purchases are made of small items of personal property, 1. e., appliances, jewelry, and etc. What Is a Chattel The word chattel can be de-fined as any item of movable or immovable property except real estate and the things which have become a part of it. This definition will suffice for our discussion of a chattel mort-gage. From this explanation of the term it is apparent that the instrument covers only those things which are not land or parts of the land. Such things as can be moved about readily furnish a rough criterion of what will be covered under the term chattel. Such things are what we commonly refer to as personalty, or personal property. Here we might say, however, that such a definition of personal property can only be used as a general guide, for the law of personal property and what it is makes up a technical part of the law full of fine distinc-tions it is full of those "sharp quillets." What Is a Blortgage? r The word mortgage means literally, a dead pledge. Mortuus ary, 1953, at 2:30 p.m. and then I and there exhibit and prove their j liens against the above described property and premises. The failure of any lien claimant to appear at the time and place specified, and exhibit and prove their liens against the said property shall be a waiver of rights to prove such lien. Dean W. Sheffield, Attorney for Orville Evershed dba Wasatch Furnace Company, 415 Ness Building, Salt Lake City, Utah. Pub.: Jan. 23 30, Feb. 6 13, 1958. NOTICE In the District Court of the Third Judicial District In ad or Salt Lake County, State of Utah Notice of Lien Foreclosure No. 112752 Walker Bank & Trust Company, Plaintiff, vs: J. Henry Smith and Thelma Smith, his wife, Anderson Lum-ber 'Co., a corporation, and Or-ville Evershed, dba Wasatch Furnace Co., and Jack R. Fisher, dba Jacks Plumbing and Heat-ing Co., Defendants, Orville Evershed, dba Wasatch Furnace Company, Cross Complainant, vs: J. Henry Smith and Thelma Smith, his wife, Defendants. Notice is hereby given that Orville Evershed dba Wasatch Furnace Company commenced an action in the above entitled proceedings for the purpose of foreclosing his lien against the following described real pro-perty and premises situated in Salt Lake County, Utah to-wi- t: Commencing North 75 degrees 00'51" West 945.86 feet from South one fourth Corner Sec-tion 7, Township 2 South, Range 1 East, Salt Lake Meri-dian, North 74 degrees 58'39" West 26.7 feet; North West-erly along a 100 feet radius curve to left 20.22 feet; North 83 degrees 06'45" West 246.41 feet; South 260.85 feet South 83 degrees East 13 feet; South 75 degrees 51 East 191 feet; North 17 degrees 42'47" East 239.06 to beginning. 1.43 acres. No. 21-144- 3. All lien claimants are hereby given notice that they shall ap-- ! pear before the Honorable Judge of Division 1, of the above en-titled Court, in the Court Room thereof, in the City and County Building in Salt Lake City, Utah, on the 20th day of Febru- - NOTICE NOTICE OF DISSOLUTION Notice is hereby given that the partnership of William E. Lee. M. D. Naylor, Jr., and K. D. Naylor, Sr., doing business as Lee Naylor Co. will be dis-solved, effective at the close of business on January 2nd, 1953, and thereafter each of the part-ners will be liable only for their own obligations. Signed M. D. NAYLOR, Jr., aad M. D. NAYLOR, Sr., Partners ROBERT B. HANSEN, Attorney 65 E. 4th So.. Salt Lake City. Utah Date of first publication Jan. 2, 1958. Pub. in S. E. Independent Jan. 2, 9, 16 & 23rd, 1958. NOTICE T Mortgagor by Mortgagee in proceeding to forcloeure and sale. By virtue of a chattel mort-gage executed by Elledge Fin-ance Co. and Daniel S. Ander-son dated the 24 day of Sep-tember, 1957 and upon which default has been made and upon which is due $600.00 and in-terest, we will expose for sale at public auction on January 31, 1958 at 10:00 a.m. o'clock, at 1202 East 21st South St., Salt Lake City, Utah, certain property mentioned in said mort-gage as follows, to wit: 1954 Ford Tudor Sedan, U4LG 117123. The terms are cash. L. W. ELLEDGE Auctioner For publication January 23rd and January 30th, 1958. NOTICE TO CREDITORS Estate of Lovie Johnson, De-ceased. Creditors will present claims with vouchers to the under-signed, address Ramon M. Child, Attorney, for the Estate of Lovie Johnson, deceased, 2188 Highland Drive, Salt Lake City, Utah, on or before the 20 day of March, A. D. 1958. DONNA C. ALSTERLIND Administratrix of the Estate of Lovie Johnson, Deceased. Date of first publication: Jan. 16, A. D. 1958. RAMON M. CinXD Pub. in S.E. Independent Jan. 16, 23 30 and Feb. 6, 1958 NOTICE TO CREDITORS Estate of William Edward Winkworth, Deceased. Creditors will present claims with vouchers to the under-signed at 415 Ness Building, Salt Lake City, Utah, on or be-fore the 25th day of March, A. D. 1958. Glen L. Winkworth, Administrator of the Estate of Wil-liam Edward Wink-worth, Deceased. Date of first publication Jan. 24, A. D. 1958. Pub.: Jan. 23 30, Feb. 6 13, 1958. NOTICE TO CREDITORS Estate of Henry L. Love and Josephine Bush Love, Deceased. Creditors will present claims with vouchers to the undersigned at 415 Ness Building, Salt Lake City, Utah, on 0r before the 25th day of May, A. D. 1958. Josephine Love Cardall, Administratrix of the Estate of Henry L. Love & Josephine Bush Love, Deceased. Date of first publication Jan. 21, A. D- - 1958. Pub.: Jan. 23 30, Feb. 6 13, 1958. $58.00 3 rms. clean 2 years old no stairs. Adults. 446 Scott Ave. HU 29 or HU CANDY Each Subscription to The SOUTHEAST INDEPENDENT rm 1 0Mnm at 93 per year ' if s. receive a J-l- b. BOX h Delicious Chocolates from Valora Store JUST FILL UT RDER BLANK BEL0W jp AND LEAVE IT WITH YOUR $3 Valora Store at 212 South 11th East YOU WILL RECEIVE A BOX OF HIGH QUALITY CHOCOLATES Name Address Zone I Renewal Extension New Subscription $65.00 3 rms. clean 2 yrs. old No stairs. Adults. 282 Hampton Ave. HU 29 or HU and Sugar House Press, Inc., at 1123 E. Twenty-Firs- t South St. Sugar House, Utah. Subscription rates are 3.00 per year by mail. Single copy price is ten cents. Publisher Clair King Editor Emma D. King NATION I 10 I T O R U I n I a sib cFa T I O N SOUTH EAST INDEPENDENT 1123 East 21st Suth Dial IN 32 Or HU 61 The South East Independent is entered as Second Class Matter, March 1, 1946, in Sa't Lake City Post Office under the act of March 3, 1879. It is published each Thurs-day morning. 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