Bailey v. Rockafellow
Supreme Court of Arkansas
Appeal from Garland Circuit Court in Chancery. Alexander M. Duffie, Judge. 1. The facts in this case constitute a purchase, and not a payment. Fox was merely the agent of Bailey in procuring the notes from Rockafellow. A mortgage is not discharged if paid with the funds of another for the purpose of purchasing it for such person.
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Appeal from Garland Circuit Court in Chancery. Alexander M. Duffie, Judge. 1. The facts in this case constitute a purchase, and not a payment. Fox was merely the agent of Bailey in procuring the notes from Rockafellow. A mortgage is not discharged if paid with the funds of another for the purpose of purchasing it for such person. Thomas on Mortg. sec. 337; 1 Jones on Mortg. 944. 2. One who purchases under a quitclaim deed occupies only the position of his grantor. 34 Ark. 590 ; 18 Minn. 405; 34 Tex. 442 ; 74 Me. 340; 2 Wall. 232 ; 3 How. 410 ; 40 Iowa, 482; 42 id. 48 ; 59 id. 371; 16 Minn.…
1Opinion of the CourtBaTTFF, J.
The facts which are necessary to be stated in order to make this opinion intelligible are as follows: In September, 1875, C. N. Rockafellow loaned to J. O. Fox five hundred dollars ; and Fox executed to him a note for the amount loaned, due six months after date, and conveyed by deed to Samuel Lemly a tract or lot of land in trust to secure the payment of the same. The deed was acknowledged and recorded. Afterwards, in February, 1876, Fox paid the note before its maturity, and Rockafellow returned it and the deed of trust to him. In a week or ten days after this, Fox and Dr. I. G. Bail-. ey…
2Cases cited5 opinions
- Champney v. . CoopeNew York Court of Appeals · 1865
- Spalding v. WathenCourt of Appeals of Kentucky · 1870
- Wells v. RiceSupreme Court of Arkansas · 1879
- Johnson v. AndersonSupreme Court of Arkansas · 1875
- Thompson's Adm'r v. GeorgeCourt of Appeals of Kentucky · 1887
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- Bulsara v. WatkinsSupreme Court of Arkansas · 2012
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