Wilson v. Eigenbrodt
Supreme Court of Minnesota
T Action to foreclose a mortgage;; trial in the district court for Wa-seca county, Buokham, J., presiding. ] On June 1, 1878, defendant Wallace made and delivered to one Oehler his two promissory notes, each for $733, dated the same day and payable, respectively, January 1, 1879, and January 1, 1880, and, to secure the payment of the same, also made and delivered to Oehler a mortgage upon certain land in Waseca county.
Read the full summary
T Action to foreclose a mortgage;; trial in the district court for Wa-seca county, Buokham, J., presiding. ] On June 1, 1878, defendant Wallace made and delivered to one Oehler his two promissory notes, each for $733, dated the same day and payable, respectively, January 1, 1879, and January 1, 1880, and, to secure the payment of the same, also made and delivered to Oehler a mortgage upon certain land in Waseca county. The mortgage was conditioned for the payment of “the sum of $1,466, and interest, according to the conditions of two promissory notes for $733 each, of even date herewith,” and…
1Opinion of the Court
I Mitchell,*
mortgage was executed to secure two notes maturing at different dates. The mortgagee assigned the note maturing last to defendant, and afterwards assigned the mortgage and the note maturing first to one Loyhed, who assigned to plaintiff. The mort.gage contained no stipulation as to giving either note priority or precedence in the order of payment out of the security. ' The proceeds of the mortgaged property being insufficient to pay both notes in full, the question which arises in this case is, in what order should these proceeds be applied ?
j All the authorities agree that the…
2Cases cited3 opinions
- Keyes v. Wood, Grant & Co.Supreme Court of Vermont · 1849
- Phelan v. OlneyCalifornia Supreme Court · 1856
- Moore v. WareSupreme Judicial Court of Maine · 1854
3Cited by16 opinions
- Lawson v. WarrenSupreme Court of Oklahoma · 1912
- Domeyer v. O'ConnellIllinois Supreme Court · 1936
- Penzel v. BrookmireSupreme Court of Arkansas · 1888
- Hall v. McCormickSupreme Court of Minnesota · 1883
- Solberg v. WrightSupreme Court of Minnesota · 1885
11 more not listed; retrieve them via the Exa API.