Armor v. Spalding
Supreme Court of Colorado
Error to District Court of Arapahoe County. In 1816, John F. Spalding, as bishop, was the owner of five promissory notes given by John Armor, aggregating $8,380, besides interest at the rate of eighteen and twenty per cent, per annum. These notes were secured by trust-deeds upon the lots in dispute. Subsequently an absolute deed was given by Armor to Spalding, as bishop, covering the incumbered premises.
Read the full summary
Error to District Court of Arapahoe County. In 1816, John F. Spalding, as bishop, was the owner of five promissory notes given by John Armor, aggregating $8,380, besides interest at the rate of eighteen and twenty per cent, per annum. These notes were secured by trust-deeds upon the lots in dispute. Subsequently an absolute deed was given by Armor to Spalding, as bishop, covering the incumbered premises. Spalding at once took exclusive possession, and has since paid all taxes, insurance, and other expenses. The promissory notes held by Spalding were delivered to Armor, but at the commencement…
1Opinion of the CourtChief Justice Helm
The complaint in the case at bar avers that the abso lute deed given by John Armor, to Spalding, as bishop, coupled with the alleged parol agreement existing at the time of its execution, constituted a mortgage. But in pleading the conditions of the defeasance it declares that Spalding was not only to take possession of the property under the deed, “hold the same in trust, collect all rents and profits, pay all taxes and expenses,” but also that “when it so enhanced in value that it could be sold so as to leave Armor a surplus, Spalding should sell, satisfy his indebtedness, and pay the…
2Cases cited2 opinions
- Gassert v. BogkMontana Supreme Court · 1888
- Whitsett v. KershowSupreme Court of Colorado · 1878
3Cited by12 opinions
- Perot v. CooperSupreme Court of Colorado · 1891
- Davis v. PurselSupreme Court of Colorado · 1913
- Neikirk v. Boulder National BankSupreme Court of Colorado · 1912
- Butsch v. SmithSupreme Court of Colorado · 1907
- Baird v. BairdSupreme Court of Colorado · 1910
7 more not listed; retrieve them via the Exa API.