Walker v. Goldsmith
Oregon Supreme Court
Appeal from Marion County. The facts are stated in the opinion of the court. By the contract of August 19, 1874, Teal agreed that his property so mortgaged should be liable for the debt — with certain restrictions and qualifications hereafter to be more particularly noticed — but it was not his debt, nor the debt of his property.
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Appeal from Marion County. The facts are stated in the opinion of the court. By the contract of August 19, 1874, Teal agreed that his property so mortgaged should be liable for the debt — with certain restrictions and qualifications hereafter to be more particularly noticed — but it was not his debt, nor the debt of his property. It was the debt of Goldsmith, and Teal’s property stood in equity chargeable, not as the principal fund, but as a secondary fund chargeable with a debt for which Teal had received no consideration, and for which Goldsmith’s mortgaged property and Goldsmith himself…
1Opinion of the Court
By the Court,
Kelly, C. J.:
On the nineteenth day of August, 1874, the appellant, B. Goldsmith, borrowed of the respondent one hundred thousand dollars, and gave his promissory note therefor, a copy of which is set out in the agreement of the parties hereinafter set forth. To secure the payment of this note, the appellants, Goldsmith and Teal, and their wives, executed certain deeds to the respondent, Henry Hewett, conveying a large amount of land to him, which deeds were absolute upon their face, but were, in fact, trust deeds, and the condition and terms of the trust were defined by a certain…
2Cases cited4 opinions
- Halsey v. ReedNew York Court of Chancery · 1842
- Vartie v. UnderwoodNew York Supreme Court · 1854
- The Bank of Albion v. . BurnsNew York Court of Appeals · 1871
- Russell v. . PistorNew York Court of Appeals · 1852
3Cited by8 opinions
- Home v. SellingOregon Supreme Court · 1919
- Durrell v. FarwellTexas Supreme Court · 1895
- Hulin v. VeatchOregon Supreme Court · 1934
- Hoffman v. HabighorstOregon Supreme Court · 1907
- Farmers' Nat. Bank v. GatesOregon Supreme Court · 1898
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