Deitch v. Staub
Court of Appeals for the Sixth Circuit
Appeal from the Circuit Court of the United States for the Eastern District of Tennessee. Creditors of the Knoxville Building & Loan Association filed a bill in the court below for the purpose of winding the association up as an insolvent corporation. Under that hill the appellee, Peter Staub, was appointed receiver, and directed to collect in all of its assets of every kind.
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Appeal from the Circuit Court of the United States for the Eastern District of Tennessee. Creditors of the Knoxville Building & Loan Association filed a bill in the court below for the purpose of winding the association up as an insolvent corporation. Under that hill the appellee, Peter Staub, was appointed receiver, and directed to collect in all of its assets of every kind. By virtue of this authority the receiver filed this bill against the appellants for the purpose of foreclosing two mortgages made to the association to secure money advanced to members of the association. One of the…
1Opinion of the CourtLurton, Circuit Judge
The enforcement of the mortgages made to secure loans by the association to its stockholders and members is resisted by the appellants upon the grounds: First. That the association was not, when the mortgages were made, a building and loan corporation, either de jure or de facto, and was therefore unable to exercise the powers granted by law to such corporations only, — of making premium loans to their members; that, not being a lawful building and loan corporation, the loans secured by mortgage, and herein sought to be enforced, were usurious, as both were upon contracts requiring the…
2Cases cited21 opinions
- Gibbons v. OgdenSupreme Court of the United States · 1824
- Cowell v. Springs Co.Supreme Court of the United States · 1879
- Wallace v. LoomisSupreme Court of the United States · 1878
- Lloyd v. ScottSupreme Court of the United States · 1830
- Latta v. KilbournSupreme Court of the United States · 1893
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3Cited by12 opinions
- Allen Estate Ass'n v. Fred Boeke & SonSupreme Court of Missouri · 1923
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- United States v. SischoDistrict Court, W.D. Washington · 1919
- Sheeler v. AlexanderDistrict Court, N.D. Ohio · 1913
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