Mutual Benefit Life Insurance v. Huntington
Supreme Court of Kansas
Error from Bourbon District Court. Hon. J. S. West, Judge. On May 2, 1884, J. D. Hill executed and delivered to W. C. Gunn, E. D. Marr, Isaac Stadden, V. A. Wallace and B. P. Hepler his negotiable promissory note for $4,563, due May 2, 1885, and to secure the payment of the same he and his wife executed a mortgage upon 64 lots in the city of Fort Scott, including lots 2 and 3 in block No. 2 which are in controversy in this action.
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Error from Bourbon District Court. Hon. J. S. West, Judge. On May 2, 1884, J. D. Hill executed and delivered to W. C. Gunn, E. D. Marr, Isaac Stadden, V. A. Wallace and B. P. Hepler his negotiable promissory note for $4,563, due May 2, 1885, and to secure the payment of the same he and his wife executed a mortgage upon 64 lots in the city of Fort Scott, including lots 2 and 3 in block No. 2 which are in controversy in this action. There was a stipulation to the effect that for every $75 paid, any lot designated by the pay- or should be released from the lien of the mortgage. Immediately after…
1Opinion of the CourtJohnston, J.
The release executed by some of the payees of the Hill note.was ineffectual. It was executed more than six years after the note and mortgage had been transferred by them' to Huntington, and when they had no ownership in either the note or mortgage. During this period Huntington held and cwned the note, and had given evidence of his ownership of the mortgage by a number of releases, which had been duly entered on the public records. The note was negotiable ; and it is well settled that, where such a note is secured by a mortgage, the note is the principal and the mortgage is the incident, and…
2Cases cited1 opinion
- Burhans v. HutchesonSupreme Court of Kansas · 1881
3Cited by14 opinions
- Chase v. Commerce Trust Co.Supreme Court of Oklahoma · 1923
- Sanders v. Park Towne, Ltd.Court of Appeals of Kansas · 1978
- Middlekauff v. BellSupreme Court of Kansas · 1922
- Bank Western v. HendersonSupreme Court of Kansas · 1994
- First Nat'l. B'k. v. Nat'l. Live Stock B'k.Supreme Court of Oklahoma · 1904
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