Smith v. Smith
Illinois Supreme Court
Appeal from the Superior Court of Chicago. This was a suit in chancery, instituted by Alfred Smith to foreclose a mortgage executed by Asher Eossitter and Erancis B. Eossitter, his wife, and Sheldon Graves • and Mary Graves, his wife, on the 14th day of June, 1853, to Thomas Dyer, upon lots five and six, in block six, in Kinzie’s addition to Chicago.
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Appeal from the Superior Court of Chicago. This was a suit in chancery, instituted by Alfred Smith to foreclose a mortgage executed by Asher Eossitter and Erancis B. Eossitter, his wife, and Sheldon Graves • and Mary Graves, his wife, on the 14th day of June, 1853, to Thomas Dyer, upon lots five and six, in block six, in Kinzie’s addition to Chicago. The mortgage was given to secure the payment of the sum of §16,000 for which the mortgagors, - Asher Eossitter and Sheldon Graves, had given their six promissory notes, of even date with the mortgage, five of them in the sum of §3,000 each,…
1Opinion of the CourtChief Justice Caton
We think the court erred in decreeing that, in the event of a sale of the premises under the decree, out of the proceeds of the sale the two notes not due should be paid. This was practically a foreclosure of the mortgage upon those notes, as well as upon those which were due. The court could not decree a foreclosure for more than was authorized by the terms of .the power of sale in the mortgage to sell the premises to pay, and that was “the principal and interest which shall then be due on said notes, or any part thereof, together with costs,” &c. If the party elected to sell under the…
2Cited by10 opinions
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- Cavers v. Sioux Oil & Refining Co.Texas Commission of Appeals · 1931
- Vieno v. GibsonTexas Supreme Court · 1893
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