In re Assignment of Engle

1 Ohio N.P. 110
CourtHamilton County Probate Court
DecidedNovember 15, 1894
StatusPublished

This text of 1 Ohio N.P. 110 (In re Assignment of Engle) is published on Counsel Stack Legal Research, covering Hamilton County Probate Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
In re Assignment of Engle, 1 Ohio N.P. 110 (Ohio Super. Ct. 1894).

Opinion

Ferris, J.

The court has listened to the testimony of the witnesses and the exhaustive arguments of counsel on the questions of law and fact for the purpose of determining the validity of the claims, as well as priority of the liens of the various claimants to the funds now in the hands of the court for distribution. The interesting and novel propositions that have been presented by the statement of facts makes it desirable to note the situation that is presented by the testimony. The court finds, from the testimony, the following statement of facts :

That Rohert L. Engle was a contractor engaged in the business of making streets, grading, and in work connected with the laying out of subdivisions ; that, as such contractor, he entered into an arrangement in writing with Mr. Groesbeck by which certain changes were to be made in the topography of his lands lying in this county, according to plats and profiles on file in this cause. In order to secure the faithful performance of the contract, which is in evidence, Mr. Engle sought and obtained, for a consideration, the Fidelity & Deposit Company of Maryland to guarantee the same, and they in turn, to secure .themselves, required Mr. Engle to enter into a contract-in words and figures following, to-wit:

“ Whereas, the Fidelity & Deposit Company of Maryland, for and in consideration of the covenants herein made by Robert L. Engle, as well as other considerations, has agreed to become surety upon the bond of said Robert L. Engle for the faithful performance of his agreement with William S. Groesbeck, of Hamilton county, Ohio, dated the-- day of November, 189B, for the grading and improving of certain property mentioned in said agreement in accordance with the drawings and specifications referred to therein.
“ And whereas, in the application of said Robert L. Engle to said company to become his surety, said Robert L. Engle represents himself as the owner of certain steam shovels, etc., to be used in the execution of the above named contract.
“ Now, therefore, in consideration of the premises and the sum of one dollar, said Robert L. Engle does hereby covenant and agree with said Fidelity & Deposit Company of Maryland, that in the event of failure of said Robert L. Engle to complete said agreement, he will permit said company, or any person or persons designated by it, to use said steam shovels, cars, engines and all other fixtures, apparatus and property used or to be used by said Robert L. Engle in the execution of said agreement or contract, in order to enable said company to complete, or have completed, said agreement; that said company shall have a lien upon said property for such purpose, which said lien shall attach immediately upon the execution of said instrument, and shall continue until said agreement or contract [111]*111with said William S. Groesbeck is completed, and all-liability of said com-! pany as surety aforesaid shall cease. "J
“ And the said Robert L. Engle further covenants and agrees not to execute any paper, nor to do anything with reference to said property which could possibly create a lien, either in law or equity, upon the saia property. ' ,
“ Witness the hand and seal of said Robert L. Engle this eighteenth: day of November, A. D. 1893.
“ [seal] Robert L. Engle.
Witness :
“Thomas M. Dobbin.”
State of Maryland, 1 Baltimore City. J
“ I hereby certify that on this eighteenth day of November, A. D. 1893, before me, the subscriber, a notary public of the state of Maryland, in and for Baltimore City, personally appeared Robert L. Engle, the person who executed the above instrument of writing, and acknowledged the same to be his act and deed.
“ In testimony whereof, I have hereunto set my hand and affixed my official seal at the city of Baltimore, the day and year first above written.
[seal] “ Thomas M. Dobbin,
Notary Public.”

Thereupon Mr. Engle began the performance of the work, and continued in the same until the ninth day of July, 1894, when, finding himself unable to meet pressing demands, he gave securities to creditors, viz., a chattel mortgage, to secure to one L. A. Nichols the sum of $2,000, a bill of sale to the Fidelity & Deposit Company, and on the 14th day of July, 1894, filed a deed of assignment in this court.

Nichols, the owner of the mortgage claim here contested, was a civil engineer, acquainted with this character of the work and understanding the value of services necessary to be done in and about such employment. After an examination, he declined a proffered partnership, but agreed to make a loan to Mr. Engle upon terms and conditions that were satisfactory to himself. Out of abundance of caution, and after many conferences relating to security, for reasons that were satisfactory to him and agreeable to Engle, it was provided that, in the event of financial disaster, he should be secured by a mortgage upon the plant; by which it was intended to mean, that if Engle was compelled to abandon the work and take the benefit of an assignment, Nichols was to have a mortgage upon the assets of Engle, used in the completion of the contract.

It is claimed by counsel for the general creditors that a mortgage made under these circumstances, namely, in pursuance of a promise for security, is fraudulent and void; that the agreement thus made is in fraud of the rights of creditors, furnishing as it does delusive credit to a party not entitled to the same by reason of a secret promise to secure one creditor to the exclusion of others. ,

The agreement that was made with the Fidelity Company, the testi-J mony shows, was known to Nichols in substance. In other words, he! loaned the money to Engle with knowlege of the existence of some agree- ; ment that Engle had entered into with the said Fidelity Company. This; the testimony fully discloses, and therefore, it is claimed, that as against “l the rights of the Fidelity Company, he took his mortgage with full notice.

Having entered into the agreement heretofore recited with the Fidel[112]*112ity Company, the instrument of security remained in their possession until the 14th day of July, when the same having been verified, was made a matter of record. It is contended that the instrument was thereupon entitled to the full force and effect of a chattel mortgage given in good faith to them, as creditors of Engle, to secure them against any loss which they might sustain by reason of the suretyship for Engle.

Free access — add to your briefcase to read the full text and ask questions with AI

Cite This Page — Counsel Stack

Bluebook (online)
1 Ohio N.P. 110, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-re-assignment-of-engle-ohprobcthamilto-1894.