Likes v. Polk
Supreme Court of Iowa
Appeal from Polk District Court. — Hon. O. P. Holmes, Judge. Action on contract for the payment of a mortgage debt. Joseph B. Davis was the owner of the property, being certain lots in the city of Des Moines, and he gave a mortgage thereon to the New England Loan & Trust Company, due February 1, 1894. The lots were conveyed to the defend_ant, and by him to the plaintiff, with the incumbrance thereon; the defendant agreeing to discharge the mortgage.
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Appeal from Polk District Court. — Hon. O. P. Holmes, Judge. Action on contract for the payment of a mortgage debt. Joseph B. Davis was the owner of the property, being certain lots in the city of Des Moines, and he gave a mortgage thereon to the New England Loan & Trust Company, due February 1, 1894. The lots were conveyed to the defend_ant, and by him to the plaintiff, with the incumbrance thereon; the defendant agreeing to discharge the mortgage. With certain omissions, not important, in view of the questions presented, in argument, the appellee states the facts as follows: “First. The…
1Opinion of the CourtGranger, J.
pfyemOT^ase: 1. Sale of mortgaged land: vendor’s construction. I. The principal contention is upon the construction of the clause, “and the mortgage is to be paid as soon as it can be, according to its terms.” The different claims for construction are these: The appellant says the mortgage could be paid *302the first day of February, 1891, it being one of the days fixed by the terms of the mortgage for the payment of interest. The appellee says: “This contract does not, as is claimed by the plaintiff, bind the defendant, Polk, to pay off the mortgage on the first day of February, 1891, or as soon…
2Cited by1 opinion
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