Warren v. . Susman
Supreme Court of North Carolina
Appeal by defendants from Peebles, J., at October Term, 1914, of Pamlico. This action was brought to recover the value of certain mules and land sold by defendant, the Washington Horse Exchange Company, under a mortgage giyen by the defendant to it. There is a power of sale 'in the mortgage, but it is restricted to the land.
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Appeal by defendants from Peebles, J., at October Term, 1914, of Pamlico. This action was brought to recover the value of certain mules and land sold by defendant, the Washington Horse Exchange Company, under a mortgage giyen by the defendant to it. There is a power of sale 'in the mortgage, but it is restricted to the land. It was executed to-secure $500, the price of the two mules, for which two notes of $250 each were given on 9 March, 1910, one payable 1 November, 1910, and the other on 1 November, 1911. The transaction took place in Pamlico County where the land is situated and where the…
1Opinion of the Court
Walker, J.,
after stating the case: The mortgagee had no power of sale as to the mules, and when the defendant seized and sold them to a third party, it amounted to a conversion and rendered them liable to the plaintiff for their real value. Otherwise if the defendant had sold them regularly under a decree of court or under some authority given to that end. Bird v. Davis, 14 N. J. Eq., 467. The jury have found that the mules did not bring á fair price at the sale made by the defendant, but, on the contrary, were worth more than twice the amount they brought at the sale. The defendant is also…
2Cases cited32 opinions
- Wiggins Ferry Co. v. Ohio & Mississippi Railway Co.Supreme Court of the United States · 1892
- Sprinkle v. Wellborn.Supreme Court of North Carolina · 1905
- Johnson—Brinkman Commission Co. v. Central BankSupreme Court of Missouri · 1893
- State v. . LeakSupreme Court of North Carolina · 1911
- Froneberger v. . LewisSupreme Court of North Carolina · 1878
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