Dawkins v. . Patterson
Supreme Court of North Carolina
Civil Action, tried at Spring Term, 1882, of Richmond Superior Court, before Shipp, J. The plaintiff being indebted to the defendants in the sum of $367.15 by note executed and bearing date on October 30th, 1874, and payable at twelve months, on the same day with one Randolph McDonald (whose relations to the matter are unexplained), conveyed by mortgage to the defendants the tract of land described in the complaint, with condition that the deed should be void if the note was…
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Civil Action, tried at Spring Term, 1882, of Richmond Superior Court, before Shipp, J. The plaintiff being indebted to the defendants in the sum of $367.15 by note executed and bearing date on October 30th, 1874, and payable at twelve months, on the same day with one Randolph McDonald (whose relations to the matter are unexplained), conveyed by mortgage to the defendants the tract of land described in the complaint, with condition that the deed should be void if the note was paid at maturity, according to its tenor ; and if not, vesting in the mortgagees a power of sale for its satisfaction.…
1Opinion of the Court
Smith, C. J.,
after stating the case. The law is well settled by a series of decisions in this state, that a trustee or mortgagee acting under a power vested in him by the deed cannot become a purchaser at his own sale, either directly or through an intervening agency, for the reason that his duties as trustee in making sale, under circumstances to command the highest price for the property, would be in conflict with his interests as a purchaser in obtaining it for the smallest sum. This is a principle enforced in equity for the benefit of the cestui que trust or mortgagor, and he may affirm…
2Cases cited5 opinions
- McLeod v. . BullardSupreme Court of North Carolina · 1881
- Froneberger v. . LewisSupreme Court of North Carolina · 1878
- McLeod v. . BullardSupreme Court of North Carolina · 1882
- Taylor v. . HeggieSupreme Court of North Carolina · 1880
- Blount v. . CarrowaySupreme Court of North Carolina · 1872
3Cited by4 opinions
- Bruner v. . ThreadgillSupreme Court of North Carolina · 1883
- Hauser v. . MorrisonSupreme Court of North Carolina · 1907
- Jones v. . PullenSupreme Court of North Carolina · 1894
- Hauser v. . MorrisonSupreme Court of North Carolina · 1907