Lipscomb v. New York Life Insurance
Supreme Court of Missouri
Appeal from Jackson Circuit Court. — Hon. E. L. Soarritt, Judge. (1) The record shows that the principal note was not due, and only one interest note of $600 was past due. The record also shows that the sale was made October 20, 1893, during the money panic, and that money could not be had at any price.
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Appeal from Jackson Circuit Court. — Hon. E. L. Soarritt, Judge. (1) The record shows that the principal note was not due, and only one interest note of $600 was past due. The record also shows that the sale was made October 20, 1893, during the money panic, and that money could not be had at any price. The record shows that Mr. Clarke paid $45,000. It cost Mrs. Hickman over $50,000, and at sale it was worth at least $35,000. We think the price, $21,000, bid for it, under all circumstances, is grossly inadequate and the sale should not be permitted to stand by a court of equity. The sale,…
1Opinion of the CourtBrace, J.
On the fourth day of June, 1889, James C. Nettleton and Virginia P., his wife, borrowed of the defendant the sum of $20,000, for which they executed their promissory notes of that date as follows, viz.: One principal note for $20,000, payable to the said insurance company five years after date, and ten semiannual interest notes payable to said company, successively in six, twelve, eighteen, twenty-four, thirty, thirty-six, forty-two, forty-eight, fifty-four and sixty months after date, all of said notes payable with interest thereon at the rate of six per cent per annum after maturity, at the…
2Cited by14 opinions
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