St. John v. Iowa Business Men's Building & Loan Ass'n
Supreme Court of Iowa
Appeal from Polk District Court.— Hon. A. H. McVky, Judge, Suit for an accounting by plaintiffs, who were borrowers from defendant, a building and loan association; for a decree that plaintiff’s obligations had been extinguished and their indebtedness paid; and for the cancellation of a mortgage given to secure the loan upon the record of Polk county. Defendant filed an answer and cross-bill, in which it asked the foreclosure of the mortgage.
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Appeal from Polk District Court.— Hon. A. H. McVky, Judge, Suit for an accounting by plaintiffs, who were borrowers from defendant, a building and loan association; for a decree that plaintiff’s obligations had been extinguished and their indebtedness paid; and for the cancellation of a mortgage given to secure the loan upon the record of Polk county. Defendant filed an answer and cross-bill, in which it asked the foreclosure of the mortgage. Decree for plaintiffs, and defendant appeals.
1Opinion of the CourtDeemer, J.
Plaintiffs became borrowing members of defendant, a building and loan association, March 24, 1899, and they gave a note and a mortgage securing the same for $1,700, and had issued to them seventeen shares of stock in the association. Plaintiffs made eighty-six payments of dues, interest, and premiums, aggregating $2,412.30, and it is claimed that these payments matured the stock, and satisfied the loan. Defendant contends that by the terms of the agreement there is yet due it something like $300, and it asked for judgment in this amount, with a decree of foreclosure of the mortgage. The case…
2Cases cited17 opinions
- Sinking-Fund CasesSupreme Court of the United States · 1879
- Union Pacific Railroad v. United StatesSupreme Court of the United States · 1878
- Greenwood v. Freight Co.Supreme Court of the United States · 1882
- Chubb v. UptonSupreme Court of the United States · 1877
- Field v. Eastern Building & Loan Ass'nSupreme Court of Iowa · 1902
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- Detroit Trust Co. v. AllingerMichigan Supreme Court · 1935
- Leininger v. North American National Life InsuranceNebraska Supreme Court · 1927
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