Hickson Lumber Co. v. Gay Lumber Co.

Pou held a properly recorded mortgage on Gay Lumber Company's (defendant) property that expressly extended its lien to any property Gay acquired later while the debt remained outstanding. Gay later bought five additional tracts using funds borrowed from Hickson Lumber Company (plaintiff), which also took a mortgage on those same tracts; Pou claimed his after-acquired property clause gave him priority over Hickson's mortgage on those five tracts, and the trial court agreed, prompting Hickson's appeal.