Stallings v. Thomas
Supreme Court of Arkansas
APPEAL from Prairie Circuit Court in chancery, southern district. Matthew T. Sanders, Judge. Thomas brought this suit against Stallings, Matthews & Co., to redeem lands in their possession from a mortgage, and to obtain an accounting of rents.
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APPEAL from Prairie Circuit Court in chancery, southern district. Matthew T. Sanders, Judge. Thomas brought this suit against Stallings, Matthews & Co., to redeem lands in their possession from a mortgage, and to obtain an accounting of rents. The facts were that in 1883 Thomas conveyed the land to Littlejohn in trust to secure a debt to Isaac Gates & BroAfterwards the latter assigned the debt and mortgage to Stallings, Matthews & Co. The deed contained this clause “And it is agreed that, if from any cause the said trustee should die or be absent from the county, or should he fail or refuse…
1Opinion of the Court
Hemingway, T. J
1. Power o mortgagee to substitute trusThe right to foreclose a mortgage at private sale is derived from the power conferred by the mortgagor, and, independent of it, does not exist. The instrument creating such a power determines its extent, as well as the manner and conditions of its exercise; and those relying upon such a sale must show that it was made in obedience to the power. The power relied upon as authority for the sale in this case was contained in the mortgage; it authorized George O. Littlejohn, the party therein named as trustee, to sell in case of default; and…
2Cited by15 opinions
- Henson v. Fleet Mortgage Co.Supreme Court of Arkansas · 1995
- First National Bank v. WaddellSupreme Court of Arkansas · 1905
- McConnell v. DaySupreme Court of Arkansas · 1896
- Craig v. MeriwetherSupreme Court of Arkansas · 1907
- Johnson v. FriersonCourt of Appeals of Texas · 1939
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