Sangster v. Love
Supreme Court of Iowa
Appeal from Johnson District Court. Love and others made their three notes to L. & W. T. Allen, and secured the same by mortgage on certain property in Iowa City. These notes were due in one, two and three years.
Read the full summary
Appeal from Johnson District Court. Love and others made their three notes to L. & W. T. Allen, and secured the same by mortgage on certain property in Iowa City. These notes were due in one, two and three years. The second note was transferred by written indorsement to complainant, and the third in the same manner to Moore & Co. Complainant files his bill setting forth the above facts, averring also that the first note had been paid, that Moore & Co. had instituted proceedings in the Johnson District Court, to foreclose said mortgage because of tlie non-payment of the note assigned to them,…
1Opinion of the Court
Weight, 3.
It was announced in Crow b. Vance, 4 Iowa, 440, as the settled doctrine in equity, that the assignment of a promissory note, secured by mortgage, carries the mortgage with it; and that the assignee may maintain an action • upon it in his own name, to enforce the lien. And see Pope v. Jacobus, 10 Iowa, 262; Woods v. Sands, 4 G. Greene, 214; Keys v. Wood, 21 Verm. 331; Belding v. Manley, Ib. 550. In the Vermont cases it was held that if the debt secured by the mortgage be assigned, and there is no agreement to the contrary, the mortgage in equity goes with it. And further that if the…
2Cases cited5 opinions
- Cotes v. City of DavenportSupreme Court of Iowa · 1859
- State Bank v. TweedyIndiana Supreme Court · 1847
- Keyes v. Wood, Grant & Co.Supreme Court of Vermont · 1849
- Crow, McCreary & Co. v. VanceSupreme Court of Iowa · 1857
- Pope & Slocum v. JacobusSupreme Court of Iowa · 1859
3Cited by3 opinions
- Denver Brick & Manuf'g Co. v. McAllisterSupreme Court of Colorado · 1882
- Miller & Chaney Bank of Newell v. CollisSupreme Court of Iowa · 1931
- Whitney v. EichnerSupreme Court of Iowa · 1927