Phelan v. Olney
California Supreme Court
Appeal from the Superior Court of the City of San Francisco. The.plaintiff filed his bill of foreclosure against J. N. Olney, J. B. Roberts, J. E. Brown, and Rebecca F. Gregory.
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Appeal from the Superior Court of the City of San Francisco. The.plaintiff filed his bill of foreclosure against J. N. Olney, J. B. Roberts, J. E. Brown, and Rebecca F. Gregory. The bill sets. forth the following averments : That on September 1st, 1853, the defendant, Olney, made two promissory notes of even tenor and date, to W. C. Jewett, for $2,000 each, payable in one year, with interest at one per cent, per month, and to secure the same, executed a mortgage on certain property in San Francisco. That Jewett assigned one of said notes to D. Brigham, who assigned the same to plaintiff, who…
1Opinion of the CourtJustice Terry
Mr. Chief Justice Murray concurred.
*483In Ord v. McKee, and Bennett v. Taylor, decided Oct. Term, 1855, we held that a mortgage is the incident of a debt, and that the endorsement of a promissory note secured by mortgage, carried with it the security without a formal assignment of the mortgage.
The endorsement and delivery by Jewett to Brigham of one of the notes secured by Gluey’s mortgage, carried with it a pro rata portion of the security. Keyes v. Wood, 21 Vt., 339; 9 Cowen, 751, and 17 Sergt. & Rawle, 404.
Roberts, the purchaser of the second note, and the assignee of the mortgage took with…
2Cases cited1 opinion
- Keyes v. Wood, Grant & Co.Supreme Court of Vermont · 1849
3Cited by11 opinions
- McMillan v. RichardsCalifornia Supreme Court · 1858
- Hohn v. Riverside County Flood Control & Water Conservation DistrictCalifornia Court of Appeal · 1964
- Union Supply Co. v. MorrisCalifornia Supreme Court · 1934
- People v. WoppnerCalifornia Supreme Court · 1859
- Wilson v. EigenbrodtSupreme Court of Minnesota · 1882
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