Bush v. Wadsworth
Michigan Supreme Court
Appeal from Kalamazoo. (Mills, J.) Complainants appeal. The facts are stated in the opinion and summarized in the head note.
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Appeal from Kalamazoo. (Mills, J.) Complainants appeal. The facts are stated in the opinion and summarized in the head note. Complainant Bush,by the payments made on the mortgages, being interested as a bondholder and stockholder of the cor■poration, was subrogated to the rights of the mortgagees to the amounts of such payments; Jones on Mortgages, vol. 1, §§ 87^-885. The decree in the foreclosure case determined complainant’s rights against the defendant corporation in this case, it being in the direct line of its title, and one of the instruments through which it claims the ownership of the…
1Opinion of the CourtMorse, J.
These two cases were argued and submitted together, and involve nearly the same state of facts.
The first bill is filed to foreclose a mortgage executed by the defendant Wadsworth to one Hiram Lewis; and the *261•other to foreclose a mortgage given by Wadsworth to one Isaac Wan Kersen.
In the summer of 1876, Wadsworth bought the land which is covered by these mortgages, — part of it of Lewis and a portion of Wan Kersen. He executed purchase-price mortgages upon the two parcels, — one to Lewis upon the land bought of him, for $2,074, and one to Wan Kersen upon the other piece, for $3,000.
He then…
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