Markey v. Langley
Supreme Court of the United States
The Kalmia Mills,' a corporation under the laws of South Carolina, having commenced the erection of a factory, borrowed from W. C. Langley & Co. of New York, in July, 1866, $150,000 upon a mortgage of its entire property. The notes given therefor were indorsed by B. F. Evans, president of the company, and by H. Cogswell and B. Mordecai, upon whom devolved the management of the mills, and the entire responsibility for the payment of its debts.
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The Kalmia Mills,' a corporation under the laws of South Carolina, having commenced the erection of a factory, borrowed from W. C. Langley & Co. of New York, in July, 1866, $150,000 upon a mortgage of its entire property. The notes given therefor were indorsed by B. F. Evans, president of the company, and by H. Cogswell and B. Mordecai, upon whom devolved the management of the mills, and the entire responsibility for the payment of its debts. In October, 1866, an additional loan, secured in like manner, was made by Langley & Co. Both mortgages contain covenants, in ease of default in the…
1Opinion of the CourtJustice Swayne
The statement of facts agreed upon by the counsel of the parties has abridged our labor in this case. We shall confine our remarks to the points, which, in our judgment, require consideration, referring to the facts only so far as is necessary for the elucidation of our views.
The validity of the two mortgages executed to Langley & Co., by the corporation known as the Kalmia Mills, is not questioned ; nor can it be doubted that the power to sell, which they contained, was sufficient to warrant the sale of the mortgaged premises in the manner prescribed. Olcott v. Bynum, 17 Wall. 68. The good…
2Cases cited4 opinions
- Olcott v. BynumSupreme Court of the United States · 1873
- Astor v. MillerNew York Court of Chancery · 1830
- Benham v. RoweCalifornia Supreme Court · 1852
- Horsey v. Hough ex rel. HoughCourt of Appeals of Maryland · 1873
3Cited by41 opinions
- United States v. Van CauwenbergheCourt of Appeals for the Ninth Circuit · 1991
- Sandler v. SilkMassachusetts Supreme Judicial Court · 1935
- Mewburn's Heirs v. BassSupreme Court of Alabama · 1886
- Reed Orchard Co. v. Superior CourtCalifornia Court of Appeal · 1912
- W. A. H. Church, Inc. v. HolmesCourt of Appeals for the D.C. Circuit · 1931
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