Steele v. Parsons
Supreme Court of Missouri
APPEAL from Lincoln Circuit Court. Makes the following appoints: 1. The deed and defeasance made at the same time, taken together, have the effect of a..mortgage.
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APPEAL from Lincoln Circuit Court. Makes the following appoints: 1. The deed and defeasance made at the same time, taken together, have the effect of a..mortgage. Gibson having the power to redeem at any time before January 1,1840, by refunding the money and returning the note. 2. Gibson’s sale and assignment to Steele, invested Steele, in equity with the same right. 3. Parsons was in no sense the debtor of William Gibson, until the first January, 1841, when the bond fell due, and the power to redeem ceased. 4. Before that period the money and bond were tendered to him by Gibson’s assignee.…
1Opinion of the CourtMcBuide, J.
On the 23d June, 1841, Steele filed his bill in chancery in the Lincoln circuit court, making Parsons and William Gibson defendants. The bill states that in April, 1840, Gibson being seized of a half quarter section of land lying in Lincoln county, and containing 80 acres, conveyed the same by deed to Parsons for the sum of $350; fifty dollars of which was paid at the time by Parsons to Gibson, and the remaining $300 secured by note payable on the 1st January, 1841. That although the deed purported on its face to be absolute, yet it was subject to a defeasance bond executed at the same time…
2Cited by3 opinions
- State v. BaldwinSupreme Court of Missouri · 1927
- Chicago City Railway Co. v. MatthiesonAppellate Court of Illinois · 1904
- Peck v. Great American InsuranceMissouri Court of Appeals · 1936