Nakdimen v. Brazil
Supreme Court of Arkansas
Appeal from Sebastian Chancery Court, Fort Smith District; W. A. Falconer, Chancellor; 1. As between appellant and the loan company the only questions involved are the right of plaintiff to pay off the mortgage, the amount he should pay, and, if paid, his right to be subrogated to all the interest and equities of Brazil.
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Appeal from Sebastian Chancery Court, Fort Smith District; W. A. Falconer, Chancellor; 1. As between appellant and the loan company the only questions involved are the right of plaintiff to pay off the mortgage, the amount he should pay, and, if paid, his right to be subrogated to all the interest and equities of Brazil. The issue between plaintiff and Brazil is whether plaintiff is compelled to pay not only the $15,000 loan with interest, but also to pay the monthly installments due by Brazil on the stock. It is the contention of plaintiff that under his purchase contract he only assumed and…
1Opinion of the CourtMcCULLOCH, C. J.
Brazil owned a valuable piece of real estate in the city of Fort Smith, and on January 3, 1916, mortgaged the same to the Midland Savings & Loan Company, a building and loan association, incorporated under the laws of the State of Colorado and doing business at the city of Denver, to secure a loan of money in the sum of $15,000 made by said association to Brazil upon shares of stock in accordance with its plan of lending money to its shareholders. The mortgage recited that Brazil was the holder of 225 shares of stock of a certain class in the association and had obtained a loan of $15,-000…
2Cases cited4 opinions
- Shanahan v. PerryMassachusetts Supreme Judicial Court · 1881
- National Annuity Ass'n v. CarterSupreme Court of Arkansas · 1910
- Fegan v. AndersonSupreme Court of Arkansas · 1917
- Johnson v. NicholsSupreme Court of Iowa · 1898
3Cited by6 opinions
- Tolley v. TolleySupreme Court of Arkansas · 1946
- W. A. McClung v. W. C. Thompson, W. C. Thompson v. W. A. McClungCourt of Appeals for the Eighth Circuit · 1968
- Cobb v. National Lead Co.District Court, E.D. Arkansas · 1963
- Gate City Building & Loan Ass'n v. FrisbySupreme Court of Arkansas · 1928
- United States ex rel. Commercial Equipment Co. v. WootenDistrict Court, W.D. Arkansas · 1954
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