Claflin v. Reese
Supreme Court of Iowa
Appeal from PolJc District Oourt. Action in equity to foreclose a mortgage which was assigned and guaranteed by defendant Sberman. A decree of foreclosure of tbe mortgage was entered and a personal judgment rendered against Sberman, from wbicb be appeals.
1Opinion of the CourtBeck, J.
I. Tbe note secured by tbe mortgage is payable to defendant Sberman, wbo indorsed it in blank and executed an assignment and guaranty upon tbe mortgage in these words: “ For value received I hereby assign and transfer tbe within mortgage to Elias 1L Clañin, and guarantee the payment thereof, principal and interest.” By the terms of the note it is not yet due, but tbe mortgage contains a stipulation that in case tbe mortgagors should- fail to pay the taxes upon tbe land 'conveyed tbe whole mortgage debt should become due. Tbe petition alleges default in payment of tbe taxes.
The defendant…
2Cases cited2 opinions
- Manny & Co. v. FrenchSupreme Court of Iowa · 1867
- Rodabaugh v. PitkinSupreme Court of Iowa · 1877
3Cited by3 opinions
- Haggart v. RanneySupreme Court of Arkansas · 1904
- German Savings Bank v. Drake Roofing Co.Supreme Court of Iowa · 1900
- Law Trust Society v. HogueOregon Supreme Court · 1900