National Life Insurance v. Olmsted
Supreme Court of Iowa
Appeal from Dallas District Court. The plaintiff’s petition alleges that John D. Rivers made and delivered to plaintiff three promissory notes, viz., one principal note for $4,000, due April 3, 1878, and two interest notes for $200 each, due respectively October 1, 1877, and April 1, 1878, all payable at Montpelier, Vermont, with ten per cent interest after maturity, and still unpaid; that to secure the payment of said notes and four other interest notes, since paid, the…
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Appeal from Dallas District Court. The plaintiff’s petition alleges that John D. Rivers made and delivered to plaintiff three promissory notes, viz., one principal note for $4,000, due April 3, 1878, and two interest notes for $200 each, due respectively October 1, 1877, and April 1, 1878, all payable at Montpelier, Vermont, with ten per cent interest after maturity, and still unpaid; that to secure the payment of said notes and four other interest notes, since paid, the said Rivers and his wife at tbe same time executed to plaintiff a mortgage on 360 acres of land in section 29, township 81,…
1Opinion of the Court
Day, J., rTOTI,.,r. whennoV available. I. The demurrer to the answer was properly sustained. The answer admits the sale of the premises in question to Hamden A. Olmsted, and his assumption ^ie debt sued on. The plaintiff accepts the personal responsibility of the Olmsteds, and makes no personal demand against the defendant Eivers. The defendant having sold the mortgaged premises, subject to the mortgage, and being released from personal responsibility for any portion of the judgment which may remain unsatisfied after exhausting-the mortgaged premises, can in no way he affected by the amount…
2Cases cited2 opinions
- Miller v. ClarkeSupreme Court of Iowa · 1873
- Carmichael v. BodfishSupreme Court of Iowa · 1871
3Cited by2 opinions
- Pardoe v. Iowa State National BankSupreme Court of Iowa · 1898
- Sullivan Savings Institution v. CopelandSupreme Court of Iowa · 1887