Alger v. Farley
Supreme Court of Iowa
Appeal from Dubuque District Court. This is a suit in equity brought by the plaintiff, who is a junior mortgagee of a stock of hardware, against the defendants, Farley and Chrisman, who are senior mortgagees of the same property, and R. T. Fanning & Co., who are the mortgagors, are also made defendants.
Read the full summary
Appeal from Dubuque District Court. This is a suit in equity brought by the plaintiff, who is a junior mortgagee of a stock of hardware, against the defendants, Farley and Chrisman, who are senior mortgagees of the same property, and R. T. Fanning & Co., who are the mortgagors, are also made defendants. Both mortgages gave the .right to the respective mortgagees to take possession of the property and proceed to sell sufficient of the same at wholesale or retail, at public or private sale for cash, as shall be best for all parties concerned, to pay the amount due with interest, and costs and…
1Opinion of the CourtCole, J.
i, mobtfraudSént demption. While the evidence does not conclusively establish that Chrisman bribed one of the mortgagors to consent to a sale in lots prejudicial to/the rights of the junior mortgagees, and to conceal the samé from them, nor that Chrisman made a binding promise to timely advise Alger of the time of sale, yet the *520evidence is of such a character as to. show that he is not entirely blameless in these particulars, and to prejudice his status in a court of equity.
But it does satisfactorily appear that the sale by Farley and Chrisman, who were mortgagees with power of sale, was made…
2Cases cited1 opinion
- Mapps v. Sharpe & Co.Illinois Supreme Court · 1863
3Cited by1 opinion
- State ex rel. Washington Mill Co. v. Great Northern Railway Co.Washington Supreme Court · 1906