Newman v. Samuels
Supreme Court of Iowa
Appeal from Dubuque District Court. This case is equitable in its character, and has its foundation in the following facts: In June, 1852, J. J. Dyer, then in life, and a resident of Iowa, borrowed of the complainant, who, at that time, was, and still is, a resident of Yirginia, $8,100; gave his note therefor, running three years, with ten per cent interest, payable annually, secured by mortgage with power of sale, usually termed a deed of trust; the respondent, Samuels,…
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Appeal from Dubuque District Court. This case is equitable in its character, and has its foundation in the following facts: In June, 1852, J. J. Dyer, then in life, and a resident of Iowa, borrowed of the complainant, who, at that time, was, and still is, a resident of Yirginia, $8,100; gave his note therefor, running three years, with ten per cent interest, payable annually, secured by mortgage with power of sale, usually termed a deed of trust; the respondent, Samuels, being the trustee.1 In September, 1855, a short time after the maturity of the note and deed of trust aforesaid, the said…
1Opinion of the CourtLowe, J.
Conceding, as we must do, from all the facts brought to light in this case, that the security spoken of in the’ pleadings, was valid in its inception, and that the debt therein specified has not yet all been paid to ISTewman, the question still remains whether in consequence of matters subsequently occurring, the lien created by said security has not been lost to the plaintiff, and the property now in controversy discharged therefrom so far as the rights of the defendants have attached, and especially those of Tut-tle and the Wakefields.
1. Deed oe mortgage m equity. Our first inquiry will be…
2Cases cited12 opinions
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