Van Dusen v. Parley
Supreme Court of Iowa
Appeal from Story District Oowt. AotioN on a note for $200 due August 11, 1873, with ten per cent, for one year, and to foreclose a mortgage given to secure it.
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Appeal from Story District Oowt. AotioN on a note for $200 due August 11, 1873, with ten per cent, for one year, and to foreclose a mortgage given to secure it. The mortgage was in the usual form, and concluded with this additional provision: “And in case default is made in the payment of said note, or any part thereof, principal or interest, the mortgagee may proceed by foreclosure to make the amount of said note, together with a reasonable attorney’s fee for plaintiff’s attorney, out of said real estate, etc.” For answer, the defendant admits the execution of the note and mortgage, and that…
1Opinion of the CourtCole, J.
I. As to the second count, it is clear that the contract alleged in it was without consideration, because the 1. contract• tíonSi-dpromis-sory note. defendant, at the time he made the alleged contract> which was after the maturity of the note, owed the full amount of interest he paid, and hence the consideration for the amount paid was fully exhausted by the interest due, and left nothing to feed the promise for the extension of time on the note. Tomlinson v. Smith et al., 2 Iowa, 39; Pomeroy & Co. v. Parmlee, 9 Iowa, 140; The State ex rel., etc., v. The Gity of Davenport, 12 Iowa, 336, and…
2Cases cited2 opinions
- Pomroy & Co. v. ParmleeSupreme Court of Iowa · 1859
- Tomlinson v. SmithSupreme Court of Iowa · 1855
3Cited by3 opinions
- Adams v. Commercial National BankSupreme Court of Iowa · 1880
- Blumer v. SchmidtSupreme Court of Iowa · 1914
- Keefer v. ValentineSupreme Court of Iowa · 1925