Phelps v. Reeder

This was a proceeding in chancery presenting, substantially, the following facts:

On the 22d day of September, 1857, Phelps, the appellant, and Reeder, the appellee, were in joint possession of certain mill property in the county of McDonough, Reeder in his own right, and Phelps as mortgagee of one Dewey, who had been •tenant in common with Reeder. On that day Phelps bought the interest of Reeder, agreeing to pay him therefor $2,425. The property, however, was at that time subject to certain mechanics’ liens, which were being prosecuted, and the precise amount of which was undetermined, as,…