Port v. Robbins
Supreme Court of Iowa
Appeal from Mills Oi/rouit Qowrt. Plaintiff sues as indorsee to recover installments of interest due on a negotiable promissory note, dated January 1, 1868, for $3,500, .made by M. W. Benson and Lewis Robbins, payable to tbe order of Phebe Ashton five years after date. The defendant Lewis Robbins alone answers: 1st. Admitting the execution of the note; 2d.
Read the full summary
Appeal from Mills Oi/rouit Qowrt. Plaintiff sues as indorsee to recover installments of interest due on a negotiable promissory note, dated January 1, 1868, for $3,500, .made by M. W. Benson and Lewis Robbins, payable to tbe order of Phebe Ashton five years after date. The defendant Lewis Robbins alone answers: 1st. Admitting the execution of the note; 2d. That he executed the note as surety only, without any consideration; that said note was executed as a renewal of a former note, made by his co-defendant to Phebe Ashton, for $3,000, and an additional sum of $500 loaned by her to Benson at…
1Opinion of the CourtMiller, J.
—
The demurrer admits the facts pleaded in the answer, and for the purposes of the demurrer they are to be taken as true.
The law is well settled, that a mortgage given to secure a debt, and not the note or bond or other evidence of it, remains a lien on the mortgaged property until the debt is paid; that no change in the form of the evidence or the mode or time of payment, nothing short of acstual payment of the debt, or an express release, will operate to discharge the mortgage. The mortgage remains a lien *210until the debt it was given to secure is satisfied, and is not affected by a change of…
2Cases cited11 opinions
- Mower v. Inhabitants of LeicesterMassachusetts Supreme Judicial Court · 1812
- King v. BaldwinCourt for the Trial of Impeachments and Correction of Errors · 1819
- Gregory v. ThomasNew York Supreme Court · 1838
- Griffith v. ReedNew York Supreme Court · 1839
- Packard v. KingmanSupreme Court of Iowa · 1860
6 more not listed; retrieve them via the Exa API.
3Cited by21 opinions
- Leach v. Commercial Savings BankSupreme Court of Iowa · 1927
- Gribben v. ClementSupreme Court of Iowa · 1909
- Trentman v. FletcherIndiana Supreme Court · 1885
- Whitehouse v. American Surety Co.Supreme Court of Iowa · 1902
- Equitable Life Insurance v. RoodSupreme Court of Iowa · 1928
16 more not listed; retrieve them via the Exa API.