Zeis v. Potter
Court of Appeals for the Seventh Circuit
Appeal from the Circuit Court of the United States for the Northwestern Division of the Northern District of Illinois. The appeal and cross appeal in these cases bring under consideration the respective rights of the parties to a certificate of sale of real estate by a master in chancery under a decree of foreclosure of a mortgage or trust deed.
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Appeal from the Circuit Court of the United States for the Northwestern Division of the Northern District of Illinois. The appeal and cross appeal in these cases bring under consideration the respective rights of the parties to a certificate of sale of real estate by a master in chancery under a decree of foreclosure of a mortgage or trust deed. The original hill in the case was brought by the cross appellant, Edwin A. Potter, receiver of the National Bank of Illinois at Chicago, for the purpose of subjecting to sale certain personal property, including the certificate in question, alleged to…
1Opinion of the CourtWoods, Circuit Judge
To the extent that the certificate of sale represented the $2,000 mortgage, there can be no doubt that Zeis had the right to assert an interest prior to that of E. S. Dreyer & Co., hy whose false representation he was induced to purchase the note in the belief that it was secured by a first mortgage. It is urged that, the $3,000 mortgage being of record, he was hound to take notice of it, and that his situation is the result of his own negligence. As against innocent purchasers buying without notice of his rights, the proposition would he unanswerable, hut equity will not permit it to he…
2Cases cited12 opinions
- Olds v. CummingsIllinois Supreme Court · 1863
- Stephens v. Illinois Mutual Fire InsuranceIllinois Supreme Court · 1867
- Young Men's Christian Ass'n Gymnasium Co. v. Rockford National BankIllinois Supreme Court · 1899
- Congar v. Chicago & Northwestern Railway Co.Wisconsin Supreme Court · 1869
- Humble v. CurtisIllinois Supreme Court · 1895
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