Cadman v. Peter
Supreme Court of the United States
APPEAL PROM THE CIRCUIT COURT OF .THE UNITED STATES FOR THE WESTERN DISTRICT OF MICHIGAN. On the 25th of October, 1875, by a warranty deed, dated and acknowledged on that day, Charles O. Cadman and his wife, of Detroit, Michigan, conveyed to William Peter, of Toledo, Ohio, in fee, land in Newaygo county, Michigan, amounting to 8^- sections, or 5400 acres, the consideration named in the deed being $20,000. On the same day, by a mortgage dated and acknowledged on that day,…
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APPEAL PROM THE CIRCUIT COURT OF .THE UNITED STATES FOR THE WESTERN DISTRICT OF MICHIGAN. On the 25th of October, 1875, by a warranty deed, dated and acknowledged on that day, Charles O. Cadman and his wife, of Detroit, Michigan, conveyed to William Peter, of Toledo, Ohio, in fee, land in Newaygo county, Michigan, amounting to 8^- sections, or 5400 acres, the consideration named in the deed being $20,000. On the same day, by a mortgage dated and acknowledged on that day, Peter mortgaged the same land to Cadman, to secure the payment to Cadman of $10,000 in four months, and $10,000 - in six…
1Opinion of the CourtJustice Blatcheord
The decision in the court below, 12 Fed. Rep. 363, announced these propositions: The agreement set forth in the bill is inconsistent with a right to redeem, it being stated as an agreement under which Peter was to hold the land until he should sell it, and then share in any profit from the sale. Hnder that agreement, even if it was valid, the deed cannot be turned into a mortgage, although the execution of the agreement, if valid, might be compelled, when the land could be sold at a considerable profit. If the agreement is obnoxious to the statute which declares that no trust concerning or in…
2Cases cited4 opinions
- Howland v. BlakeSupreme Court of the United States · 1878
- Coyle v. DavisSupreme Court of the United States · 1885
- Tilden v. StreeterMichigan Supreme Court · 1881
- Case v. PetersMichigan Supreme Court · 1870
3Cited by20 opinions
- Jasper v. HazenNorth Dakota Supreme Court · 1894
- Mahoney v. BostwickCalifornia Supreme Court · 1892
- Keithley v. WoodIllinois Supreme Court · 1894
- Wallace. v. JohnstoneSupreme Court of the United States · 1889
- Rushton v. McIllveneSupreme Court of Arkansas · 1908
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