Rankin v. Wilsey
Supreme Court of Iowa
Appeal from Lee District Court. Oh the 5th day of May, 1860, the plaintiffs filed their petition in equity, setting up, in substance, that on the 21st day of November, 1857, the defendant, Wilsey, being owner of lots one, two and three, in. block sixty-five, in Keokuk, Iowa, upon which he was building a large hotel, to be known as the Estes House, with stores, &c., sold and conveyed on that day to the defendant, Hornish, the undivided four-fifteenths of said property, for…
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Appeal from Lee District Court. Oh the 5th day of May, 1860, the plaintiffs filed their petition in equity, setting up, in substance, that on the 21st day of November, 1857, the defendant, Wilsey, being owner of lots one, two and three, in. block sixty-five, in Keokuk, Iowa, upon which he was building a large hotel, to be known as the Estes House, with stores, &c., sold and conveyed on that day to the defendant, Hornish, the undivided four-fifteenths of said property, for forty thousand dollars, and agreed to complete said building; that a further agreement, also embodied in said conveyance,…
1Opinion of the CourtColb, J.
i. svkety : 8U& It is an old and well settled rule in equity, that where the principal debtor has given any securities or other pledges to his surety, the creditor is entitled to all the benefit of such securitiés or pledges in the hands of the surety, and may, in equity, subject them to the payment of his debt. Comyn’s Digest, Chan. 4 D. C.; Wright v. Morley, 11 Vesey, 22; 1 Story’s Eq. Jur., *466§§ 502, 638; Moses et al. v. Murgatroyd et al., 1 Johns. Ch., 119; Phillips v. Thompson, 2 Johns. Ch., 418.
But, in order to entitle the creditor to reach such securities or pledges, they must he valid…
2Cases cited5 opinions
- James v. MoreyCourt for the Trial of Impeachments and Correction of Errors · 1823
- Moses v. MurgatroydNew York Court of Chancery · 1814
- Wickersham v. ReevesSupreme Court of Iowa · 1855
- Gardner v. AstorNew York Court of Chancery · 1817
- Phillips v. ThompsonNew York Court of Chancery · 1817
3Cited by6 opinions
- Morrill v. MorrillSupreme Court of Vermont · 1880
- Byington v. FountainSupreme Court of Iowa · 1883
- Citizens' Nat. Bank v. First Nat. BankNew Mexico Supreme Court · 1924
- Rittenhouse v. KempIndiana Supreme Court · 1871
- Poole v. LoweSupreme Court of Colorado · 1898
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