Michigan Supreme Court April 4, 1939, Docket No. 14, Calendar No. 40,288. (International Harvester Co. v. Young)

Wiest, J.

Earl R. Young, father of defendants, was indebted to plaintiff in the sum of about $2,800, evidenced by his notes, with interest thereon, and secured by a chattel mortg’age upon his farm implements and live stock. His farm was mortgaged and his total indebtedness amounted to about $13,500. He applied for a Federal loan with which to meet his indebtedness.