Schmitt v. Merriman
Appellate Court of Illinois
Foreclosure.—Deficiency decree. Appeal from the Circuit Court of Cook County. Heard in this court at the March term, 1901. June 13, 1890, Elizabeth C. Lidster, of Beloit, Wisconsin, conveyed by warranty deed to Charles W. Merriman the premises described in said deed, the consideration therefor being stated therein to be $12,150. Merriman gave back to Mrs. Lidster a mortgage of $9,000, of the same date and for the same property; this mortgage being recited to be given to…
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Foreclosure.—Deficiency decree. Appeal from the Circuit Court of Cook County. Heard in this court at the March term, 1901. June 13, 1890, Elizabeth C. Lidster, of Beloit, Wisconsin, conveyed by warranty deed to Charles W. Merriman the premises described in said deed, the consideration therefor being stated therein to be $12,150. Merriman gave back to Mrs. Lidster a mortgage of $9,000, of the same date and for the same property; this mortgage being recited to be given to secure three notes of $3,000 each, dated June 13, 1890. One of the attesting witnesses to the Lidster deed was J. B. Dow,…
1Opinion of the CourtJustice Waterman
It is a familiar rule that where one person for a valuable consideration makes a- promise to another for the benefit of a third person, such third person may maintain an action lipón it. It is not necessary that any consideration should move from the third person. Thus in conveyance of land, if a part of the consideration is the assumption by the grantee of a mortgage upon the premises, the grantee becomes bound to discharge such incumbrances; and this obligation may be enforced by the mortgagee; and if the deed recite that the grantee assumes and agrees to pay the mortgage, the grantee, by…
2Cases cited11 opinions
- Burr v. . BeersNew York Court of Appeals · 1861
- Garnsey v. . RogersNew York Court of Appeals · 1872
- Dean v. WalkerIllinois Supreme Court · 1882
- Bay v. WilliamsIllinois Supreme Court · 1884
- Thompson v. DearbornIllinois Supreme Court · 1883
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3Cited by1 opinion
- Fishback v. J. C. Forkner Fig Gardens, Inc.California Court of Appeal · 1934