First Trust Co. v. Rathbone

In. this suit to foreclose a real estate.mortgage, an order of sale was entered October 26, 1934, which fixed the mortgage lien at $17,351.40 and a tax lien in favor of another at $1,204.83. At a sale September 3,- 1935, after a nine-months’-stay, the plaintiff bid $13,950-for the property, subject to the tax lien. This is an appeal from the order confirming the sale and denying the defendants’ application for a stay under the moratorium.

The appellants object to the confirmation of the sale for the reason that the bid was grossly inadequate. The rule is well established in this jurisdiction…