Sawtelle v. North American Savings, Loan & Building Co.
Utah Supreme Court
Appeal from the Second district court, Weber county. Hon. H. H. Rolapp, Judge. Suit by John R. Sawtelle against the North American Savings, Loan and Building Company. Decree for defendant. Plaintiff appeals. The relation of stockholder and borrower are distinct and may exist independently of each other. Sweeney v. Ass’n., 26 S. W. 290; Blakeley v. Ass’n., 26 S. W. 292; Association v. Furey, 20 Atl. 890. The mortgage itself contained sufficient to put him on inquiry.
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Appeal from the Second district court, Weber county. Hon. H. H. Rolapp, Judge. Suit by John R. Sawtelle against the North American Savings, Loan and Building Company. Decree for defendant. Plaintiff appeals. The relation of stockholder and borrower are distinct and may exist independently of each other. Sweeney v. Ass’n., 26 S. W. 290; Blakeley v. Ass’n., 26 S. W. 292; Association v. Furey, 20 Atl. 890. The mortgage itself contained sufficient to put him on inquiry. Lang Syne M. Go. v. Ross, 20 Nev. 137; Sec. 373; Jones on Mtgs., yol. 1; 2 Pom. Eq. Jr., sec. 608. That the plaintiff elects to…
1Opinion of the Court
Bartch, J.:
The defendant in this case is a corporation organized and existing under the laws of the state of Minnesota, and is doing business in this state. It appears from the record that one Charles J. Humphries on December 20, 1891, subscribed for 17 shares of its capital stock, and received a certificate therefor on April 11, 1892, and that the certificate was issued on the condition that the shareholder agreed to pay to the defendant corporation 60 cents monthly for each share, until such monthly payments, together with the profits arising from interest on loans, premiums, and other…
2Cases cited4 opinions
- Rowland v. Old Dominion Building & Loan Ass'nSupreme Court of North Carolina · 1894
- Randall v. National Building, Loan & Protective UnionNebraska Supreme Court · 1894
- Rowland v. Old Dominion Building & Loan Ass'nSupreme Court of North Carolina · 1895
- Tilley v. American Bldg. & Loan Ass'nU.S. Circuit Court for the District of Western Arkansas · 1892
3Cited by11 opinions
- Spann v. American Express Travel Related Services Co.Court of Appeals of Tennessee · 2006
- Howells v. Pacific States Savings, Loan, & Building Co.Utah Supreme Court · 1900
- People's Building, Loan & Savings Ass'n v. FowbleUtah Supreme Court · 1898
- Hale v. StengerWashington Supreme Court · 1900
- Snyder v. Fidelity Savings Ass'nUtah Supreme Court · 1901
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