Oskaloosa National Building, Loan & Investment Ass'n v. Bailey
Supreme Court of Iowa
Appeal from Poweshiek District Court.— Hon. John T. Soott, Judge. Action' in equity to foreclose mortgage. There was a decree of foreclosure, but the plaintiff, claiming a greater recovery than allowed, appeals.—
1Opinion of the CourtWeaver, J.
The plaintiff is an alleged building and loan association, and on April 1, 1896, it issued to the defendant James W. Bailey five shares of stock, of $100 each, payable in monthly installments after the manner1 usual with such associations. On September 1, 1896, defendant, received from plaintiff a loan of $300, securing the same in the usual manner by pledging three of said shares of stock and by the mortgage here in controversy. The effect of the agreement was that the loan should be paid according to the plan of such associations by maturing said shares of stock, but by a stipulation…
2Cases cited3 opinions
- Safety Building & Loan Co. v. EcklarCourt of Appeals of Kentucky · 1899
- Iowa Deposit & Loan Co. v. MatthewsSupreme Court of Iowa · 1905
- Kleimeir v. Covington Perpetual Building & Loan Ass'nCourt of Appeals of Kentucky · 1902