Hare v. Bailey
Supreme Court of Minnesota
Action in the district court for Hennepin county to restrain the foreclosure of a real-estate mortgage, and to cancel the same. The cause was tried before Russell, J., without a jury, and judgment in favor of plaintiff was ordered. From an order, McGee, J., denying defendant’s motion for a new trial, she appealed. The Kelleys had no authority to receive payment of the mortgage in question at the time the attempted payment was made.
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Action in the district court for Hennepin county to restrain the foreclosure of a real-estate mortgage, and to cancel the same. The cause was tried before Russell, J., without a jury, and judgment in favor of plaintiff was ordered. From an order, McGee, J., denying defendant’s motion for a new trial, she appealed. The Kelleys had no authority to receive payment of the mortgage in question at the time the attempted payment was made. In the absence of express or implied authority, the mortgage securities are the indispensable evidence of authority to collect the principal thereof, and the…
1Opinion of the CourtCanty, J.
This case is another illustration of the system of frauds practiced by the firm of A. F. & L. E. Kelley, former loan agents at Minneapolis.
During all the times hereinafter mentioned, plaintiff was, and still is, the owner of a certain city lot in Minneapolis. On January 3, 1893, he procured a loan of $1,100 from defendant, and executed to her therefor his promissory note, due in three years, with interest at the rate of 7 per cent, per annum, payable semiannually according to the terms of six coupon notes attached to the principal note, and signed by him. He also executed to her a mortgage on…
2Cited by14 opinions
- Harrison v. LegoreSupreme Court of Iowa · 1899
- Board of Education v. RobinsonSupreme Court of Minnesota · 1900
- Ulen v. KnecttleWyoming Supreme Court · 1936
- Budd v. BroenSupreme Court of Minnesota · 1899
- Schafer v. OlsonNorth Dakota Supreme Court · 1912
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