Executors of Swartz v. Leist
Ohio Supreme Court
Error to tbe district court of Marion county. The original action came into the district court of Marion county, by appeal from, the judgment of the court of common pleas.
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Error to tbe district court of Marion county. The original action came into the district court of Marion county, by appeal from, the judgment of the court of common pleas. The suit was brought by the plaintiffs in error, against one»William Hurd and the defendant in error; and the petition, filed December 8, 1857, alleges that Hurd, on the 10th of April, 1855, executed and delivered to one Peter Little (then in life, but since deceased) his promissory note for $200, payable to said Little, or bearer, on November 1, 1857; and to secure the payment of the same, and other motes, executed and…
1Opinion of the CourtScott, J.
A mortgage of real estate is regarded, in equity, as-a mere security for the performance of its condition of de-feasance. If that condition be the payment of a debt, the security is regarded as an incident belonging to the debt, and the equitable right to the benefit of the security, passes, by the legal transfer of the debt, to the assignee, unless the agreement of the parties to the transfer be otherwise. And so, if the debt be evidenced by several promissory notes, the legal transfer of a portion of the notes carries with it such proportionate interest in the security as the notes…
2Cited by29 opinions
- Connecticut Mutual Life Insurance v. TalbotIndiana Supreme Court · 1887
- Edgar v. HainesOhio Supreme Court · 1923
- Lewis v. KirkSupreme Court of Kansas · 1882
- Marling v. NommensenWisconsin Supreme Court · 1906
- Swasey v. EmersonMassachusetts Supreme Judicial Court · 1897
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