Hoffman v. McMorran

In 1876 one Thomas J. Dunford was the owner of one-third of the vessel called the “ Fred J. Dun-ford,” and on the 6th of January of that year he gave a mortgage on that interest to defendant McMorran for the nominal consideration of $1000 ; and on the 23d of Febru*319ary following he gave another mortgage on the same interest to Thomas S. Skinner for the nominal consideration of $2600. Both mortgages were subsequently foreclosed by advertisement, the defendant becoming the purchaser under his own and complainant becoming the purchaser under the other. It being claimed by Hoffman that his right…