Crampton v. Massie
Court of Appeals for the Fifth Circuit
Petition to Superintend and Revise from tbe District Court of the United States for the Middle District of Alabama; Henry D. Clayton, Judge. In the matter of the bankruptcy of M. B. Campbell. Petition by F. J. Crampton for vacation of sale of property of the. bankrupt, or, in the alternative, for payment to him of the proceeds of the sale, opposed by Bessie K. Massie, guardian of the estate of Joel White Massie, and George Stuart, as trustee..
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Petition to Superintend and Revise from tbe District Court of the United States for the Middle District of Alabama; Henry D. Clayton, Judge. In the matter of the bankruptcy of M. B. Campbell. Petition by F. J. Crampton for vacation of sale of property of the. bankrupt, or, in the alternative, for payment to him of the proceeds of the sale, opposed by Bessie K. Massie, guardian of the estate of Joel White Massie, and George Stuart, as trustee.. The petition was dismissed, and petitioner petitions to superintend and revise. Prior to and at the time of tlie bankruptcy of M. B. Campbell, he owned…
1Opinion of the CourtWalker, Circuit Judge
[1, 2] (after stating the facts as above). In the absence of a statute affecting the question, it is the generally, if not universally, accepted rule that, when a debt secured by a mortgage has been paid, the mortgage becomes functus officio and dead, and it cannot be made to stand as security for a new or different debt between the original parties, or reissued to a different creditor. Bogert v. Bliss, 148 N. Y. 194, 42 N. E. 582, 51 Am. St. Rep. 684; Lamphier v. Desmond, 187 Ill. 370, 58 N. E. 343; Bowman v. Manter, 33 N. H. 530, 66 Am. Dec. 743; 27 Cyc. 1434; 1 Jones on Mortgages (6th Ed.)…
2Cases cited8 opinions
- Credits Commutation Co. v. United StatesSupreme Court of the United States · 1900
- Ex parte PrintupSupreme Court of Alabama · 1888
- Abbett v. PageSupreme Court of Alabama · 1890
- Bogert v. . BlissNew York Court of Appeals · 1896
- Credits Commutation Co. v. United StatesCourt of Appeals for the Eighth Circuit · 1898
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3Cited by1 opinion
- Hammock v. OakleySupreme Court of Alabama · 1934