Fairbank v. Cudworth
Wisconsin Supreme Court
APPEAL from the Circuit Court for Fond du Lac County; Action by mortgagee against mortgagor, to restrain the latter from committing waste on the mortgaged premises.
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APPEAL from the Circuit Court for Fond du Lac County; Action by mortgagee against mortgagor, to restrain the latter from committing waste on the mortgaged premises. The complaint, which is duly verified, states that the mortgage therein-mentioned, which bears date March 16, 1872, was given to secure the purchase monéy of the mortgaged premises to the amount of $3,400, payable in unequal annual installments, the, first of which falls due October 1, 1873, and the last October 1, 1879, with interest at ten per cent., payable annually. The complaint charges that the defendant is about to cut all…
1Opinion of the CourtLyoN, J.
It clearly appears, by a preponderance of the proofs, that the mortgaged premises are but scanty security for the mortgage debt, and that, should the defendant fail to pay any portion of such debt, and the plaintiff be compelled to foreclose the mortgage, the security would be entirely inadequate. No foreclosure action can be commenced until after a payment becomes due. After the commencement of such action it will require, under favorable circumstances, from six to twelve months to obtain judgment therein, and perhaps a longer- time. Then notice of sale must be published at least six weeks,…
2Cases cited2 opinions
- Robinson v. RussellCalifornia Supreme Court · 1864
- Bunker v. LockeWisconsin Supreme Court · 1862
3Cited by14 opinions
- Taylor v. CollinsWisconsin Supreme Court · 1881
- Schreiber v. CareyWisconsin Supreme Court · 1880
- Anderson v. EnglehartWyoming Supreme Court · 1910
- Moses Bros. v. JohnsonSupreme Court of Alabama · 1889
- Northrup v. TraskWisconsin Supreme Court · 1876
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