Slowey v. McMurray
Supreme Court of Missouri
Error to St. Louis Land Cowrt. The petition in substance sets forth that on the 14th day of August, 1855, plaintiff was the owner of a certain lot in the city of St. Louis; that he held the same subject to an encumbrance by deed of trust to secure two notes — one for $616, payable in twelve months — the other for $682, payable in twenty-four months from date ; that when said note for $616 became due he was unable to pay the same ; that McMurray loaned plaintiff $300,…
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Error to St. Louis Land Cowrt. The petition in substance sets forth that on the 14th day of August, 1855, plaintiff was the owner of a certain lot in the city of St. Louis; that he held the same subject to an encumbrance by deed of trust to secure two notes — one for $616, payable in twelve months — the other for $682, payable in twenty-four months from date ; that when said note for $616 became due he was unable to pay the same ; that McMurray loaned plaintiff $300, plaintiff agreeing to pay interest thereon at the rate of two and a half per cent, per month for the period of six months; that…
1Opinion of the CourtScott, Judge
As the light in which this and contracts similar to that involved in this suit should be regarded is a matter of some importance, and as cases of this kind are not' of unusual occurrence, it may be as well to look a little into this matter.
We do not well see how the transaction between these parties can be regarded as a mortgage or a quasi mortgage, or how the law of mortgages is applicable to it. It may be premised that contracts of this kind are narrowly watched, and courts lean strongly in favor of the right of redemption. *116Chancellor Kent says, that the distinction between a mortgage and a…
2Cases cited5 opinions
- Rose v. BatesSupreme Court of Missouri · 1848
- Glover v. PaynNew York Supreme Court · 1838
- Brant v. RobertsonSupreme Court of Missouri · 1852
- Getman v. GetmanNew York Court of Chancery · 1846
- Hiester v. MaderiaSupreme Court of Pennsylvania · 1842
3Cited by27 opinions
- Swon v. HuddlestonSupreme Court of Missouri · 1955
- Donovan v. BoeckSupreme Court of Missouri · 1909
- Bobb v. WolffSupreme Court of Missouri · 1899
- Turner v. KerrSupreme Court of Missouri · 1869
- Forrester v. MooreSupreme Court of Missouri · 1883
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