Hodgdon v. Davis
Supreme Court Of The Territory Of Dakota
APPEAL from the district court, Minnehaha county; Hon. C. S. Palmer, Judge. This was an action by Alfred M. and Emily J. Hodgdon, plaintiffs, against L. E. Davis, defendant, to set aside a foreclosure sale, and in the event that relief was denied, for an accounting and a right to redeem. The case was determined below by the sustaining of a demurrer to the complaint..
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APPEAL from the district court, Minnehaha county; Hon. C. S. Palmer, Judge. This was an action by Alfred M. and Emily J. Hodgdon, plaintiffs, against L. E. Davis, defendant, to set aside a foreclosure sale, and in the event that relief was denied, for an accounting and a right to redeem. The case was determined below by the sustaining of a demurrer to the complaint.. The complaint alleged that on and prior to the 14th day of July, 1884, the plaintiffs were the owners of certain land on which, on the 25th day of July, 1883, they had given a mortgage to the Colonial and United States Mortgage…
1Opinion of the Court
By the Court :
1. This was a contract by which the defendant, in effect, loaned the plaintiff $5,500 by assuming to pay a prior mortgage of $2,632.30 and paying the remainder to them in cash. The mere fact that he did not, and could not, immediately pay off the mortgage which bore a lower rate of interest, cannot be construed to make defendant’s contract usurious.
2. The sale at foreclosure by the deputy sheriff, while perhaps irregular in not using the name of his principal, was valid.
3. No further notice was necessary.
4. There was, under the terms of the mortgage, a breach of its conditions…
2Cited by3 opinions
- Doolittle v. NurnbergNorth Dakota Supreme Court · 1914
- State Bank of Reynolds v. First National Bank of ReynoldsNorth Dakota Supreme Court · 1923
- Delfelder v. Teton Land & Investment Co.Wyoming Supreme Court · 1933