Nature of the Case
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Facts
Johns and his wife were indebted to McDonald for $2,210, evidenced by three promissory notes all executed and delivered prior to May 5, 1908. Johns executed and delivered a mortgage for $662.16 to McDonald on May 5, 1908. Johns also delivered another mortgage to Bechtol on May 4, 1908, for the same amount. Both mortgages were given to secure payment of preexisting indebtedness, and no new or additional consideration was given as an inducement for the mortgages The Bechtol mortgage was executed and delivered first and the McDonald mortgage was recorded first. The judge determined that priority went to the party having received the first mortgage.
Holding and Decision
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Legal Analysis
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