Trustees of Schools v. Love
Appellate Court of Illinois
Appeal from the Circuit Court of Jasper County; the Hon. O. C. Boggs, Judge, presiding. In 1870 appellants loaned Elias Wilson $75 of the school fund and took a common school mortgage on forty acres of land to secure the debt. At that time John Mason held a prior mortgage on the same land from Wilson, to secure $300 and interest.
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Appeal from the Circuit Court of Jasper County; the Hon. O. C. Boggs, Judge, presiding. In 1870 appellants loaned Elias Wilson $75 of the school fund and took a common school mortgage on forty acres of land to secure the debt. At that time John Mason held a prior mortgage on the same land from Wilson, to secure $300 and interest. After Wilson’s death, and at the November term, 1872, of said Circuit Court, appellants and Mason each filed a bill against the heirs of Wilson to foreclose their respective mortgages, and each obtained a decree. On December 28, 1872, a sale was made in each case…
1Opinion of the CourtGreen, J.
The legal effect of the proceedings in foreclosure, was to merge in the respective decrees the mortgages of Mason and appellants, and the debts secured thereby. The debt and mortgage to Mason were merged in the decree entered in his favor. And the debt and mortgage to appellants were merged in the decree entered for them. The decrees were each fully satisfied by the sale of the land, to Mason and to appellants. -.The general rule is, that by a decree in chancery, the contract or instrument upon whi<jh the proceeding is based, becomes entirely merged in the decree. By the judgment of the court…
2Cases cited9 opinions
- County of Piatt v. GoodellIllinois Supreme Court · 1880
- Wayman v. CochraneIllinois Supreme Court · 1864
- Ryhiner v. FrankIllinois Supreme Court · 1883
- Leroy v. City of SpringfieldIllinois Supreme Court · 1876
- Ramsay v. County of ClintonIllinois Supreme Court · 1879
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3Cited by2 opinions
- In Re JenkinsUnited States Bankruptcy Court, N.D. Illinois · 1981
- Whitenack v. AgarttAppellate Court of Illinois · 1894