Stanley v. Verity
Missouri Court of Appeals
Appeal from Mercer Circuit Court. — Wo». P. G. Stepp, Judge. (1) When the loan association has become insolvent, payments on stock can not he applied as credits on a loan. The borrower must repay his loan and should present his claim for stock payments to be allowed in due course against the insolvent estate. Brown v. Archer, 62 Mo. App. 277; Price v. Loan Ass’n, 75 Mo. App. 551; Clark v. Lopp, 80 Mo*. App. 542; State ex rel. v. Loan Ass’n, 80 Mo.
Read the full summary
Appeal from Mercer Circuit Court. — Wo». P. G. Stepp, Judge. (1) When the loan association has become insolvent, payments on stock can not he applied as credits on a loan. The borrower must repay his loan and should present his claim for stock payments to be allowed in due course against the insolvent estate. Brown v. Archer, 62 Mo. App. 277; Price v. Loan Ass’n, 75 Mo. App. 551; Clark v. Lopp, 80 Mo*. App. 542; State ex rel. v. Loan Ass’n, 80 Mo. App. 585; Woerhide v. Johnston, 81 Mo. App. 200; Clark v. Loan Ass’n, 85 Mo*. App. 397; Hohenshell v. Loan Ass’n, 140 Mo. 578. (2) Under the…
1Opinion of the CourtEllison, J.
This is a bill in equity whereby plaintiff seeks an accounting with defendant and, after paying what is found to be due from him, to cancel a note and deed of trust securing the same. The defendant appealed from the decree of the trial court.
It appears that the Missouri Guarantee Savings and Building Association, existing under the building and loan statute, became insolvent and that defendant became the assignee thereof. That some years prior to the insolvency, viz., in 1893, plaintiff became a member of said association and borrowed $700 of it. That he took a certificate of stock as a…
2Cases cited9 opinions
- Sanger v. UptonSupreme Court of the United States · 1875
- Meroney v. Atlanta Building & Loan Ass'nSupreme Court of North Carolina · 1895
- Brown v. Lasalle ArcherMissouri Court of Appeals · 1895
- City Bank v. BartlettSupreme Court of Georgia · 1883
- Griswold v. SeligmanSupreme Court of Missouri · 1880
4 more not listed; retrieve them via the Exa API.