Miami Exporting Co. v. Bank of the United States
Ohio Supreme Court
In Chancery. The bill in this case states that on the 3d of January, 1822, Joseph Ruffner mortgaged one hundred and sixty-three 250] *acres of land in Butler county, a house and lot, No. 22, on Main street, Cincinnati, and lots 1, 2, 3, 4, 5, 6, V, 8, 9, 10, 11, 12, 13, 14, 15, 16, IV, 18, 19, 20, 21, 25, and 26, in McFarland’s subdivision of that city, to the Baixk of the United States, to secure the payment of sundry notes given by him, and endorsed by Abraham Ruffner, his…
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In Chancery. The bill in this case states that on the 3d of January, 1822, Joseph Ruffner mortgaged one hundred and sixty-three 250] *acres of land in Butler county, a house and lot, No. 22, on Main street, Cincinnati, and lots 1, 2, 3, 4, 5, 6, V, 8, 9, 10, 11, 12, 13, 14, 15, 16, IV, 18, 19, 20, 21, 25, and 26, in McFarland’s subdivision of that city, to the Baixk of the United States, to secure the payment of sundry notes given by him, and endorsed by Abraham Ruffner, his brother. That on the 5th of January, 1822, Joseph Ruffner mortgaged the same property, and also lots 360, 361,362, 385,…
1Opinion of the CourtWrigiit, J.
There are several important questions presented for consideration in this case.
Had Joseph Ruffner, in June, 1823, any legal interest in the six lots now claimed by the compilainants, which was subject to the lien of their judgment, liable to sale upon execution, so that they acquired by their purchase any legal or equitable estate?
Courts of law now look upon mortgages as mere security for a debt; and so firmly is this doctrine settled, that it is said to be an affront to common sense to hold a mortgagor in possession of the mortgaged property not to be the legal owner of it. The mortgagee,…
2Cases cited12 opinions
- Bell v. MorrisonSupreme Court of the United States · 1828
- Union Bank of Georgetown v. GearySupreme Court of the United States · 1831
- Hitchcock v. HarringtonNew York Supreme Court · 1810
- Sands v. CodwiseCourt for the Trial of Impeachments and Correction of Errors · 1808
- Jackson ex dem. Norton v. WillardNew York Supreme Court · 1809
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3Cited by5 opinions
- Slee v. President & Directors of the Manhattan Co.New York Court of Chancery · 1828
- Springbrook RoadSupreme Court of Pennsylvania · 1870
- In re Private Road in Redstone TownshipSupreme Court of Pennsylvania · 1886
- In re Road in Springdale TownshipSupreme Court of Pennsylvania · 1879
- In re Road in West Brunswick TownshipSchuylkill County Court of Quarter Sessions · 1873