Russell v. Pierce
Michigan Supreme Court
Appeal from Clare; Dodds, J. Bill by Robert D. Russell, receiver of the Security Savings & Loan Association, against Henry W. Pierce and wife and Alfred J. Doherty and wife, to foreclose a mortgage. From a decree of foreclosure for less than the amount claimed, complainant appeals. This is a proceeding to foreclose a mortgage executed by the defendants Pierce to the Security Savings & Loan Association of Minneapolis, Minn. The defendant Doherty is a subsequent purchaser.
Read the full summary
Appeal from Clare; Dodds, J. Bill by Robert D. Russell, receiver of the Security Savings & Loan Association, against Henry W. Pierce and wife and Alfred J. Doherty and wife, to foreclose a mortgage. From a decree of foreclosure for less than the amount claimed, complainant appeals. This is a proceeding to foreclose a mortgage executed by the defendants Pierce to the Security Savings & Loan Association of Minneapolis, Minn. The defendant Doherty is a subsequent purchaser. The question involved is how much is due on the mortgage. On the 10th of January,"; 1890, Henry W. Pierce subscribed for…
1Opinion of the CourtMontgomery, J.
(after stating the facts). It is settled by authority that payments of dues on stock are not payments on the mortgage debt, and do not, ipso facto, work an extinguishment of the mortgage. End. Bldg. Ass’ns, § 477; Price v. Kendall, 14 Tex. Civ. App. 26; Rogers v. Rains, 100 Ky. 295; Building & Loan Ass’n v. Price, 169 U. S. 45. There is no evidence of fraud, nor are any misrepresentations shown, such as appeared in Sawyer v. Building Ass’n, 103 Mich. 229. The contention of defendants’ counsel is that the subscription to stock and the loan were parts of one transaction, and that the contract…
2Cases cited4 opinions
- Rogers v. RainsCourt of Appeals of Kentucky · 1896
- People's Building & Loan Ass'n v. BillingMichigan Supreme Court · 1895
- Price v. KendallCourt of Appeals of Texas · 1896
- Building and Loan Assn. of Dakota v. PriceSupreme Court of the United States · 1898
3Cited by5 opinions
- Apperson v. Citizens Mutual InsuranceMichigan Court of Appeals · 1983
- Estey v. Capital Investment, Building & Loan Ass'nMichigan Supreme Court · 1902
- National Mutual Building & Loan Ass'n v. BurchMichigan Supreme Court · 1900
- Home Savings & Loan Ass'n v. MasonMichigan Supreme Court · 1901
- Hale v. GullickSouth Dakota Supreme Court · 1900