Iowa Loan & Trust Co. v. Schnose
South Dakota Supreme Court
Appeal from circuit court, Turner county; Hon. E. G. Smith, Judge. Action by the Iowa Loan & Trust Company against Augustus E. Schnose and others. Prom a judgment for defendants, plaintiff appeals. All agreements between the original mortgagor and his grantee, or any person who afterward acquired title, cannot affect the original payee of the note, unless he directly agrees, or by somd act, by which the law imputes to him an agreement releases the principal debtor.
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Appeal from circuit court, Turner county; Hon. E. G. Smith, Judge. Action by the Iowa Loan & Trust Company against Augustus E. Schnose and others. Prom a judgment for defendants, plaintiff appeals. All agreements between the original mortgagor and his grantee, or any person who afterward acquired title, cannot affect the original payee of the note, unless he directly agrees, or by somd act, by which the law imputes to him an agreement releases the principal debtor. James v. Day et al., 37 Iowa 164; Nassie v. Mann, 17 la. 181; Robertson v. Stuhlmiller, 93 la. 326, 61 N. W. 986; Shepard v. May,…
1Opinion of the CourtCorson, P. J.
This is an action to recover from the defendants $500 alleged to be due the plaintiff upon a certain promissory note executed by the defendant Schnose, and its payment assumed by the other defendants. The case was tried to the court without a jury, and, the • findings and judgment being in favor of the defendants, the plaintiff has appealed.
The facts as found by the court may be summarized as follows: In December, 1889, the defendant Schnose obtained a loan from the plaintiff, giving it the promissory note in controversy in this action, and to secure its payment, executed a mortgage on 80…
2Cases cited17 opinions
- Calvo v. . DaviesNew York Court of Appeals · 1878
- Union Mutual Life Insurance v. HanfordSupreme Court of the United States · 1892
- Home National Bank v. Estate of WatermanIllinois Supreme Court · 1890
- Union Stove & Machine Works v. CaswellSupreme Court of Kansas · 1892
- Sandmeyer v. Dakota Fire & Marine InsuranceSouth Dakota Supreme Court · 1891
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3Cited by13 opinions
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