Schifferstein v. Allison
Appellate Court of Illinois
In error to the Circuit Court of Jasper County; the non. William C. Jones, Judge, presiding. On the 23d day of October, 1874, Samuel ¡R, Sandefnr and his wife, Emily, executed their promissory note to Yalentine Krauss, for the sum of §300, payable in one year from date with interest at the rate of ten per cent., payable annually.
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In error to the Circuit Court of Jasper County; the non. William C. Jones, Judge, presiding. On the 23d day of October, 1874, Samuel ¡R, Sandefnr and his wife, Emily, executed their promissory note to Yalentine Krauss, for the sum of §300, payable in one year from date with interest at the rate of ten per cent., payable annually. On the same day they made their certain mortgage deed to secure the payment of said note upon the premises described in the bill At the February term, A. D. 1878, of the Jasper Circuit Court, plaintiff in error recovered a judgment against Samuel ¡R. Sandefnr and…
1Opinion of the CourtPillsbury, J.
The holding of the courts in England, and in most of the States of the Union, that a mortgagee, notwithstanding the debt is barred by the statute, might still assert his right under the mortgage to enforce the lien in analogy to the Statute of Limitations respecting actions for the recovery of real estate, has not been recognized by our courts. Here it is the settled doctrine that the debt is the principal thing, and the mortgage security but a mere incident, and anything that discharges the debt will have the effect of destroying the lien created by the mortgage, and can be set up as a…
2Cases cited6 opinions
- Emory v. KeighanIllinois Supreme Court · 1878
- Emory v. KeighanIllinois Supreme Court · 1880
- Harris v. MillsIllinois Supreme Court · 1862
- Medley v. ElliottIllinois Supreme Court · 1872
- Hough v. BaileySupreme Court of Connecticut · 1864
1 more not listed; retrieve them via the Exa API.
3Cited by1 opinion
- Colonial & United States Mortgage Co. v. Northwest Thresher Co.North Dakota Supreme Court · 1905