Preston, Kean & Co. v. Morris Case & Co.
Supreme Court of Iowa
Appeal from Black Hawk Circuit Court. On the 11th day of December, A. D. 1872, the defendant executed his negotiable promissory note payable to the order of H. M. Crittenden, cashier, and to secure the same executed a mortgage on his homestead and left both with Crittenden or the Waterloo Savings Bank, of which Crittenden was cashier.
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Appeal from Black Hawk Circuit Court. On the 11th day of December, A. D. 1872, the defendant executed his negotiable promissory note payable to the order of H. M. Crittenden, cashier, and to secure the same executed a mortgage on his homestead and left both with Crittenden or the Waterloo Savings Bank, of which Crittenden was cashier. The object in the execution of the note and mortgage being to secure future loans of money which Crittenden agreed to make from time to time, as defendant might require for the purpose of purchasing stock. On the 17th day of December, A. D. 1872, the mortgage…
1Opinion of the Court
Seevers, Ci-r. J.
1. MORTGAGE: promissory note: assignment. I. That the judgment rendered by the Circuit Court on the note is correct all the authorities eoncede* Put on the remaining and only question hr the case, the same uniformity does not exist, It is agreed, however, on all hands that the note is the principal thing and the mortgage the incident, and that the assignment of the note carries with it the mortgage. It would, therefore, seem necessarily to follow, if the title and right of the assignee to obtain judgment on the note exists, so *551must liis right to have a foreclosure of the…
2Cases cited1 opinion
- Carpenter v. LonganSupreme Court of the United States · 1873
3Cited by13 opinions
- Des Moines Savings Bank v. ArthurSupreme Court of Iowa · 1913
- Robertson v. U. S. Live Stock Co.Supreme Court of Iowa · 1914
- Farmers' National Bank v. FletcherSupreme Court of Iowa · 1876
- Yerger v. BarzSupreme Court of Iowa · 1881
- Swift v. Bank of WashingtonCourt of Appeals for the Eighth Circuit · 1902
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