In the Matter of Waterbury Packing Company, Inc., Bankrupt

Second Circuit

In the Matter of Waterbury Packing Company, Inc., Bankrupt

309 F.2d 743, 1962 U.S. App. LEXIS 3747

CourtCourt of Appeals for the Second Circuit

DecidedNovember 2, 1962

Docket51, Docket 27183

StatusPublished

Cited by1 cases

This text of 309 F.2d 743 (In the Matter of Waterbury Packing Company, Inc., Bankrupt) is published on Counsel Stack Legal Research, covering Court of Appeals for the Second Circuit primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

In the Matter of Waterbury Packing Company, Inc., Bankrupt, 309 F.2d 743, 1962 U.S. App. LEXIS 3747 (2d Cir. 1962).

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Opinion

PER CURIAM.

The District Court confirmed an order of the Referee in Bankruptcy holding appellant’s chattel mortgage invalid because in the copy of the mortgage note incorporated in the chattel mortgage the date of the note was left blank. This omission was important because the note provided for payment in quarterly installments “beginning three months from the date hereof”.

The relevant Connecticut statute (Conn.Gen.Stat.Ann. § 49-93 (1958)) requires that, as a condition of its validity, a chattel mortgage contain “the terms of repayment”. Under Connecticut law this statute must be strictly construed against the mortgagee. Bickart v. Sanditz, 105 Conn. 766, 136 A. 580 (1927).

While there appears to be no direct Connecticut authority on the point here in controversy, the case of Rhode Island Hosp. Nat’l Bank, etc. v. Larson, 137 Conn. 541, 79 A.2d 182 (1951) seems to us to be sufficiently close to be controlling. In that case it was held that a conditional sales agreement in which the day of the month on which payments were to be made was left blank was invalid under a statute requiring that such an agreement, to be valid as against creditors of the vendee, must describe “all the conditions of such sale”.

Happily future Connecticut cases will not turn upon such minor technicalities, since Connecticut has now adopted the Uniform Commercial Code.

Affirmed.

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PER CURIAM.

The District Court confirmed an order of the Referee in Bankruptcy holding appellant’s chattel mortgage invalid because in the copy of the mortgage note incorporated in the chattel mortgage the date of the note was left blank. This omission was important because the note provided for payment in quarterly installments “beginning three months from the date hereof”.

The relevant Connecticut statute (Conn.Gen.Stat.Ann. § 49-93 (1958)) requires that, as a condition of its validity, a chattel mortgage contain “the terms of repayment”. Under Connecticut law this statute must be strictly construed against the mortgagee. Bickart v. Sanditz, 105 Conn. 766, 136 A. 580 (1927).

While there appears to be no direct Connecticut authority on the point here in controversy, the case of Rhode Island Hosp. Nat’l Bank, etc. v. Larson, 137 Conn. 541, 79 A.2d 182 (1951) seems to us to be sufficiently close to be controlling. In that case it was held that a conditional sales agreement in which the day of the month on which payments were to be made was left blank was invalid under a statute requiring that such an agreement, to be valid as against creditors of the vendee, must describe “all the conditions of such sale”.

Happily future Connecticut cases will not turn upon such minor technicalities, since Connecticut has now adopted the Uniform Commercial Code.

Affirmed.

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309 F.2d 743, 1962 U.S. App. LEXIS 3747, Counsel Stack Legal Research, https://law.counselstack.com/opinion/in-the-matter-of-waterbury-packing-company-inc-bankrupt-ca2-1962.

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