United States Mortgage Co. v. Gross
Illinois Supreme Court
Appeal from the Superior Court of Cook county. Benjamin Lombard, being the owner of lot 13 and the south half of lot 12, in block 139, School Section addition to the city of Chicago, on August 22,1872, executed a mortgage thereon to the United States Mortgage Company, a corporation created by a law of the State of New York, and whose place of business was in the city of New York, to secure the payment, in gold coin, of §50,000, in five years, at uiue per centum interest per…
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Appeal from the Superior Court of Cook county. Benjamin Lombard, being the owner of lot 13 and the south half of lot 12, in block 139, School Section addition to the city of Chicago, on August 22,1872, executed a mortgage thereon to the United States Mortgage Company, a corporation created by a law of the State of New York, and whose place of business was in the city of New York, to secure the payment, in gold coin, of §50,000, in five years, at uiue per centum interest per annum, which was duly recorded. The mortgage contained a clause, inserted after the habendum and warranty clauses, as…
1Opinion of the Court
Mr. Justice Baker*
delivered the opinion of the Court:
We will first examine as to the validity of the mortgage executed by Lombard to the United States Mortgage Company.
The charter of that company is not incorporated in the record, but from its name, the character of its transaction here involved, and the facts appearing in the case, we may reasonably conclude its principal or sole business was and is to loan money, taking to itself mortgages on real estate to secure the same.
The general incorporation law of 1872, which was in force when the mortgage was executed, provided for the formation in…
2Cases cited3 opinions
- City of Alton v. Illinois Transportation Co.Illinois Supreme Court · 1850
- Carroll v. City of East St. LouisIllinois Supreme Court · 1873
- Carpenter v. JenningsIllinois Supreme Court · 1875
3Cited by25 opinions
- Lightcap v. BradleyIllinois Supreme Court · 1900
- Anderson v. Santa AnnaSupreme Court of the United States · 1886
- Gross v. United States Mortgage Co.Supreme Court of the United States · 1883
- Bolles v. BrimfieldSupreme Court of the United States · 1887
- Stevens v. PrattIllinois Supreme Court · 1881
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