National Home Building & Loan Ass'n v. Scudder-Gale Grocer Co.
Missouri Court of Appeals
Appeal from tbe St. Louis City Oircuit Court. — Hon. William Zachritz, Judge. (1) A parol agreement by the grantee of real estate with his grantor to assume and pay off an existing incumbrance thereon is valid and binding upon the grantee, and may be enforced by the holder of such incumbrance, and that such an agreement is not inviolationof tbe statute of frauds. 2 Devlin on Deeds, sec. 1037; Lamb v. Tucker, 42 Iowa, 118; Putney v. Eorham, 27 Wis. 187; Merriman v. Moore, 90…
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Appeal from tbe St. Louis City Oircuit Court. — Hon. William Zachritz, Judge. (1) A parol agreement by the grantee of real estate with his grantor to assume and pay off an existing incumbrance thereon is valid and binding upon the grantee, and may be enforced by the holder of such incumbrance, and that such an agreement is not inviolationof tbe statute of frauds. 2 Devlin on Deeds, sec. 1037; Lamb v. Tucker, 42 Iowa, 118; Putney v. Eorham, 27 Wis. 187; Merriman v. Moore, 90 Pa. St. 78; Wilson v. Ring, 23 N. J. Eq. 150; Burnham v. Dorr, 72 Mainé, 198; Drury v. Holden, 121 111. 128; Lock v.…
1Opinion of the CourtBig Gs, J.
The plaintiff is an Illinois corporation. In 1890 one Isabel E. Drake subscribed for five shares of its stock. In January, 1891, she borrowed $500 of the association, for which she gave her note payable in monthly instalments until the series in which her stock was placed fully matured. To secure this loan she transferred her certificate o£ stock to the plaintiff, and she also executed a mortgage to it on a lot owned by her and situated in Oreal Springs, Illinois. Subsequently, to wit, in August, 1892, the title to the lot by mesne conveyances was vested in Martha E. Wright, wife of W. E.…
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