Porter v. Title Guaranty & Surety Co.
Idaho Supreme Court
APPEAL from tbe District Court of tbe Third Judicial District, for Ada County. Hon. Fremont Wood, Judge. .An action to foreclose a chattel mortgage. Judgment for plaintiff. Defendant and cross-complainant appeals.
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APPEAL from tbe District Court of tbe Third Judicial District, for Ada County. Hon. Fremont Wood, Judge. .An action to foreclose a chattel mortgage. Judgment for plaintiff. Defendant and cross-complainant appeals. Tbe undisputed facts in this case entitle tbe appellant as against tbe plaintiff to an “equitable assignment by way of subrogation” of the First National Bank mortgage, to the extent that the appellant has furnished money which directly or indirectly was used in the payment of the bank’s mortgage. (3 Pomeroy Eq. Jur., 3d ed., secs. 1211, 1212; Wilson v. Wilson, 6 Ida. 597-607, 57…
1Opinion of the CourtStewart, J.
— On July 8, 1905, the firm of Monarch & Porter, composed of John W. Monarch and William S. Porter, entered into a contract with the United States for the construction of certain canals, ditches, etc., under what is known as “The Minadoka Irrigation Project.” Afterward said firm of Monarch & Porter executed three several chattel mortgages on their plant and personal property as follows: A mortgage dated Dec. 13, 1905, to C. W. Moore as trustee of the First National Bank of Idaho, to secure a promissory note in the sum of $10,000; a mortgage dated Mar. 6, 1906, to John Porter, to secure a note…
2Cases cited8 opinions
- Moran v. AbbeyCalifornia Supreme Court · 1883
- Binford v. AdamsIndiana Supreme Court · 1885
- Warren v. StoddartIdaho Supreme Court · 1899
- Froman v. MaddenIdaho Supreme Court · 1907
- Jones v. StoddartIdaho Supreme Court · 1902
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3Cited by21 opinions
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