Arnold v. Stevenson
Nevada Supreme Court
Appeal from the District Court of the First Judicial District, Storey County, Hon. R. S. Mesick presiding. There is no equitable lien in favor of the mortgagees. This equitable lien only arises in marshaling the assets of any insolvent firm, and is worked out by the equities existing between the partners, and not otherwise. (See Story’s Equity, vol. 2, secs. 1,252, 1,253.) The complaint is framed to enforce a mortgage, and not an equitable lien.
Read the full summary
Appeal from the District Court of the First Judicial District, Storey County, Hon. R. S. Mesick presiding. There is no equitable lien in favor of the mortgagees. This equitable lien only arises in marshaling the assets of any insolvent firm, and is worked out by the equities existing between the partners, and not otherwise. (See Story’s Equity, vol. 2, secs. 1,252, 1,253.) The complaint is framed to enforce a mortgage, and not an equitable lien. If we admit the debt to have been a partnership debt, still Coover could not execute a mortgage on joint property to secure that debt. (Story on…
1Opinion of the Court
•Opinion by
Lewis, C. J., full Bench concurring.
This action was brought to foreclose a mortgage executed as follows:
“ Charles S. Coover, C. C. Stevenson, — by Chas. S. Coover, his attorney in fact.”
The pleadings and finding of facts by the Court show that at the time the debt was contracted and the mortgage executed, the defendants Coover and Stevenson were copartners in a certain quartz mill located at Gold Hill, in the County of Storey; that the defendant Stevenson, on the seventh day of March, 1863, executed to Coover a power of attorney, whereby he was fully empowered to execute the…
2Cited by8 opinions
- Picetti v. OrcioNevada Supreme Court · 1936
- Smith v. Southern Pacific Co.Nevada Supreme Court · 1928
- Best v. GuntherWisconsin Supreme Court · 1905
- State ex rel. Hunting v. BrodiganNevada Supreme Court · 1921
- Consolidated Municipality of Carson City v. LepireNevada Supreme Court · 1996
3 more not listed; retrieve them via the Exa API.