Smith v. Godfrey

It will be more convenient to confine the terms of our discussion to one case. Our conclusion and the reasons therefor will be applicable alike to both eases.

Taking the first entitled case, it appears that the plaintiff, Sidney .Smith, was holder of a $50,000 mortgage duly executed by the defendants Boyer, Dayton, and Craig. These defendants have no defense to the mortgage, and decree was entered against them without contest. It further appears that the mortgaged land was sold by these mortgagors to" the defendants Godfrey and Eldridge for a stated consideration of $88,000. In the deed of…