Appeal from judgment of Court of Common Pleas of Centre County, June T., 1967, No. 58, in case of Karp Bros., Inc. v. West Ward Savings and Loan Association of Shamokin, Pa.
Andrew M. Pipa, Jr., for appellant.
John L. Geiser, with him Litke, Gettig, Flood & Geiser, for appellee.
Bell, C. J., Jones, Cohen, Eagen, O'Brien, Roberts and Pomeroy, JJ. Opinion by Mr. Justice Eagen.
This is a replevin action instituted by Karp Brothers, Inc. (Karp) against West Ward Savings & Loan Association of Shamokin (West Ward) for the return of fifty items of property or their value in damages. The case was tried non-jury below, after which a money award for the value of the goods was entered in favor of the plaintiff by the trial court. Exceptions to the adjudication were dismissed, and a final judgment entered. West Ward appeals.
The record discloses the following pertinent facts:
On April 29, 1964, J. N. McCown and Florence W. McCown, his wife, the owners of land in State College, Pennsylvania, upon which the Ranch Court Motel is
constructed, obtained a loan in the amount of $240,000 from West Ward. Payment of the loan was secured by a mortgage on the motel real estate executed by the McCowns in favor of West Ward as mortgagee. The mortgage was duly recorded. Subsequent thereto or on January 8, 1965, the McCowns entered into an agreement with Joseph S. Karp & Bros., now Karp Bros., Inc., a wholesale distributor of restaurant equipment, utensils and supplies. Under the terms of the agreement, Karp agreed to provide the McCowns with an assortment of fifty items of restaurant equipment to be used in furnishing a proposed restaurant which was to become part of the motel complex. These items are the subject of this replevin action.
On February 10, 1965, Karp filed a financing statement in the office of the Prothonotary of Centre County and the office of the Secretary of the Commonwealth. Attached to the financing statement filed in the prothonotary's office was a copy of the agreement of January 8, 1965.
On March 8, 1965, Karp, as lessor, and the McCowns, as lessees, executed a "Bailment Lease" covering the pieces of equipment mentioned previously. On the same day, this lease was negotiated to the Hollidaysburg Trust Company (Hollidaysburg) with all of Karp's interest and title in and to the restaurant equipment. The McCowns made ten payments totaling $5,107.97 towards the total time balance owing of $17,120.41. On January 11, 1966, a second "Bailment Lease" was entered into by the McCowns and Karp for a total time balance of $14,907.82, representing the balance still ...