Albion State Bank v. Knickerbocker
Michigan Supreme Court
Appeal from Calhoun; Smith, J. Bill by the Albion State Bank against Charles R. Knickerbocker, William B. Knickerbocker, the Jackson City Bank, Nathan S. Potter, and Jennie P. Goodwin, as administratrix of the estate of William F. Goodwin, deceased, impleaded with the First National Bank of Albion, to enforce an equity in a real-estate mortgage. From a decree for complainant, defendants appeal.
1Opinion of the CourtLong, J.
This bill was filed to enforce an equity in a real-estate mortgage security given by a principal debtor to his accommodation maker on certain notes. It appears that on February 4, 1896, William B. Knickerbocker was engaged in the milling business at Albion, under the name of the Albion Milling Company. He was indebted to the complainant in the sum of $5,000, for which he gave a note, with his father, Charles R. Knickerbocker, as accommodation maker. About April 21st, William B. became financially embarrassed, and gave his father a mortgage for $31,500, pajmble six months thereafter, with the…
2Cases cited3 opinions
- Moses v. MurgatroydNew York Court of Chancery · 1814
- Union National Bank v. RichMichigan Supreme Court · 1895
- Bushnell v. WoodIllinois Supreme Court · 1877
3Cited by5 opinions
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- Equitable Powder Manufacturing Co. v. GreenAppellate Court of Illinois · 1903
- Brooks v. Greil Bros.Supreme Court of Alabama · 1914