Steele ex rel. Milroy v. Farber
Supreme Court of Missouri
Appeal from, Ralls Circuit Court. William Penix, on 28th June, 1862, executed to the relators (who are the respondents here ) a mortgage with power of sale (filed for record July, 1862), conveying certain real estate and personal property, therein described, to secure debts due from him to some of said mortgagees, and to indemnify certain of them as his sureties.
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Appeal from, Ralls Circuit Court. William Penix, on 28th June, 1862, executed to the relators (who are the respondents here ) a mortgage with power of sale (filed for record July, 1862), conveying certain real estate and personal property, therein described, to secure debts due from him to some of said mortgagees, and to indemnify certain of them as his sureties. After describing the property, he says “and also the products of my farm, until my debts to the aforesaid persons are satisfied.” The deed provides that if the grantor pays his individual indebtedness and saves harmless his…
1Opinion of the CourtHolmes, Judge
After some hesitation as to whether this instrument (which is very inartificially drawn) be properly a mortgage, a deed of trust, or a partial assignment for the benefit of creditors, we have come to the conclusion that it must be considered as a mortgage containing a power to sell, and creating a trust in the proceeds of the sale. It conveys the property, consisting of real and personal estate, to the sixteen persons named as grantees and parties of the second part, and it is conditioned for the payment of certain debts owed by the grantor to some of these parties, and for indemnity against…
2Cases cited11 opinions
- Kellogg v. WadhamsSupreme Court of Connecticut · 1832
- Shepard v. PhilbrickNew York Supreme Court · 1846
- Crews v. Pendleton & MountcastleSupreme Court of Virginia · 1829
- Bradley v. HollowaySupreme Court of Missouri · 1859
- King v. BaileySupreme Court of Missouri · 1843
6 more not listed; retrieve them via the Exa API.
3Cited by4 opinions
- Salmon v. FewellMissouri Court of Appeals · 1885
- Magwire v. TylerSupreme Court of Missouri · 1867
- State ex rel. Grabinsky v. SmitMissouri Court of Appeals · 1885
- Hayden v. BurkemperMissouri Court of Appeals · 1890