112 SALE AND MORTGAGE. 



gage, and remarked : "Strong and very persuasive arguments 

 have been adduced by able judges in support of their con- 

 clusion that the lien of him who feeds the cattle ought to 

 prevail as against the mortgagee, since the mortgagee has left 

 the property in the possession of the one executing the se- 

 curity, who is thereby apparently clothed with authority to 

 contract with reference to the stock, and his bargain in such 

 a case has resulted in the preservation and betterment of the 

 security which the mortgagee claims. Other judges contend, 

 with much learning, that the agistor has notice of the exist- 

 ence of the security and must be presumed to have contracted 

 with reference to its probable enforcement. These contro- 

 versies, however, have arisen where the security antedated the 

 placing of the stock with the ranchman. It does not seem 

 ever to have been held that where the lien of the feeder has 

 had its inception prior to the giving of the security, which is 

 taken Avith knowledge of the situation of the stock, such sub- 

 sequent mortgage is superior to its equities." 



In a Massachusetts case, however, it was held that a lien for 

 the keeping of a horse, created by agreement, will not hold 

 against a mortgage subsequently executed and recorded, if 

 the owner is afterwards permitted to use the horse at his pleas- 

 ure, as the relinquishment of possession is an abandonment 

 of the lien.2" 



The delivery of an instrument in writing, purporting to de- 

 liver possession of cattle forty-five miles away, is not such a 

 taking of possession by a mortgagee holding under an unre- 

 corded mortgage as will defeat an attachment lien secured 

 before the actual possession is obtained.^** 



Where the trainer of a race-horse accepts a bill of sale in 

 place of his former lien he takes it subject to a chattel mort- 

 gage given to a third person while he was in possession.^*^ 



One who takes a mortgage on a flock of sheep, with knowl- 



'" Perkins v. Boardman, 14 Gray (Mass.) 481. 

 '"Blanchard v. Ingram (Ind. Ty.), 48 S. W. Rep. 1066. 

 '" Murray v. Guse, 10 Wash. 25. 



