Hasbrouck v. Rich
Missouri Court of Appeals
Appeal from Jasper Circuit Court. — Eon. J. D. Perl tins, Judge. (1) Plaintiff’s mortgage is void because it permits tbe mortgagor to sell tlie mortgaged property and appropriate the proceeds thereof to his own use and benefit; and because it provides that the mortgagor may sell .the mortgaged property and substitute other property in lieu thereof.
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Appeal from Jasper Circuit Court. — Eon. J. D. Perl tins, Judge. (1) Plaintiff’s mortgage is void because it permits tbe mortgagor to sell tlie mortgaged property and appropriate the proceeds thereof to his own use and benefit; and because it provides that the mortgagor may sell .the mortgaged property and substitute other property in lieu thereof. There are some decisions in this State which countenance a qualified right of substitution by the mortgagor in certain cases, such as are necessary to supply breakage, loss, or waste of the mortgaged property; but no case goes so far as to approve…
1Opinion of the CourtEllison, J.
— The plaintiffs are trustees in a deed of trust in the nature of a mortgage given by a mining corporation known as the Missouri Blanket Vein Company, whereby an issue of bonds of certain denominations was secured. Defendant is the sheriff of Jasper county, and as such had seized certain property (cover*393ed by the mortgage) under a writ of attachment sued out by certain creditors of the company. The plaintiff trustees brought this action in replevin against the sheriff and they prevailed in the trial court.
The only question presented by the record is whether the provisions of the mortgage…
2Cases cited10 opinions
- Shaw v. BillSupreme Court of the United States · 1877
- Butler v. RahmCourt of Appeals of Maryland · 1877
- Stanley v. BunceSupreme Court of Missouri · 1858
- Walter v. WimerSupreme Court of Missouri · 1856
- Goddard v. JonesSupreme Court of Missouri · 1883
5 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- Elliott v. SullivanMissouri Court of Appeals · 1911
- Murphy Hotels Corp. v. Central Nat. Bank Savings & Trust Co.Court of Appeals for the Sixth Circuit · 1927