George v. Hoyle, Trustees

Summary

The Court held that railroad rolling stock is personal property, not part of the realty, and therefore mortgages on such stock must be filed under the 1833 chattel mortgage act or are void as against creditors. It also held that a director who purchases corporation property under execution cannot acquire absolute title without the corporation's right to redeem or demand a resale. Justice Reynolds dissented, arguing the mortgages were valid despite the filing defect.