Kent v. Bailey
Supreme Court of Iowa
Appeal from Madison District Court. — J. H. Applegate, Judge. The petition alleged that, about October 11, 1913, Theodore Hartwell sold and conveyed to E. O. Bailey Lot 8 in Block 16 in Pitzer and Knight’s Addition to Winterset for $300, said Bailey and wife executing, as part consideration, two notes of $100 each, one payable October 5, 1914, and the other a year later; that, about the time the first note became due, Bailey employed Hoy to procure an extension of time or a…
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Appeal from Madison District Court. — J. H. Applegate, Judge. The petition alleged that, about October 11, 1913, Theodore Hartwell sold and conveyed to E. O. Bailey Lot 8 in Block 16 in Pitzer and Knight’s Addition to Winterset for $300, said Bailey and wife executing, as part consideration, two notes of $100 each, one payable October 5, 1914, and the other a year later; that, about the time the first note became due, Bailey employed Hoy to procure an extension of time or a new loan to take up the said notes; that Roy advised plaintiff of the situation, and that $250 would be required to take…
1Opinion of the CourtLadd, J.
1. Subrogation: discharge of obligations: essential and non-essential elements. Hartwell sold, the lot to Bailey on October 11, 1913, for $300. To secure two deferred payments of $100 each, Bailey executed a mortgage on the lot. Upon the maturity of the first payment, Bailey employed Eoy to obtain a new loan out of which to take up Hartwell’s mortgage and pay the taxes. Thereupon, Eoy negotiated with plaintiff, disclosing to him the facts as stated, and proposing that, if he would make the loan, he should be secured by a first mortgage and lien on the lot, and, relying thereon, plaintiff…
2Cases cited26 opinions
- Aetna Life Ins. Co. v. MiddleportSupreme Court of the United States · 1888
- Wilkins, Neely & Jones v. GibsonSupreme Court of Georgia · 1901
- Emmert v. ThompsonSupreme Court of Minnesota · 1892
- Home Savings Bank v. BierstadtIllinois Supreme Court · 1897
- Gans v. . ThiemeNew York Court of Appeals · 1883
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3Cited by32 opinions
- Home Owners' Loan Corp. v. Sears, Roebuck & Co.Supreme Court of Connecticut · 1937
- Martin v. HickenlooperUtah Supreme Court · 1936
- Worcester North Savings Institution v. FarwellMassachusetts Supreme Judicial Court · 1935
- Beaver County v. Home Indemnity Co.Utah Supreme Court · 1935
- Connor v. Thompson Construction & Development Co.Supreme Court of Iowa · 1969
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