Lindell v. Lee
Supreme Court of Missouri
Error to St. Louis Land Court. John Lee <& Co., a firm composed of John Lee, Elliot Lee, and Jesse G-. Lindell, gave a note, to John Thornton for two thousand dollars, and Elliot Lee executed a' mortgage to John Thornton to secure the payment of said note. Jesse G. Lindell died, and his executrix took an assignment of said note from Thornton’s executor, and filed her petition to foreclose the mortgage.
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Error to St. Louis Land Court. John Lee <& Co., a firm composed of John Lee, Elliot Lee, and Jesse G-. Lindell, gave a note, to John Thornton for two thousand dollars, and Elliot Lee executed a' mortgage to John Thornton to secure the payment of said note. Jesse G. Lindell died, and his executrix took an assignment of said note from Thornton’s executor, and filed her petition to foreclose the mortgage. The court held that the debt was the debt of Jesse G. Lindell as well as Elliot Lee, and therefore that the debt was satisfied by the assignment, and that plaintiff could not foreclose.…
1Opinion of the CourtBates, Judge
The mortgage was collateral to the note, and the plaintiff could not have a judgment for the foreclosure of the mortgage if she could not have recovered upon the note.
The plaintiff’s testator having been a member of the firm which gave the note, she, by purchasing the note, which she was equally bound with the other members of the firm to pay, acquired a demand for so much money as she had expended for the use of the firm, which would be allowed her upon a settlement of the partnership. There is no averment or evidence of a settlement of the partnership accounts, or that this is the only…
2Cases cited1 opinion
- McKnight v. McCutchenSupreme Court of Missouri · 1858
3Cited by1 opinion
- Wright v. RadcliffeMissouri Court of Appeals · 1895