Dewey v. W. B. Clark Investment Co.
Supreme Court of Minnesota
Appeal by plaintiff, Everett H. Dewey, from an order of the district court, Hennepin county, Lochren, J., made July 11, 1891, overruling a demurrer to the answer. John Paulson made his note, with interest coupons, February 1, 1888, to T. E. Penney for $450 and interest, and secured its payment by a mortgage on 80 acres of land in Brookings county, South Dakota. On March 23, 1888, plaintiff bought this note and mortgage, and they were duly assigned to him.
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Appeal by plaintiff, Everett H. Dewey, from an order of the district court, Hennepin county, Lochren, J., made July 11, 1891, overruling a demurrer to the answer. John Paulson made his note, with interest coupons, February 1, 1888, to T. E. Penney for $450 and interest, and secured its payment by a mortgage on 80 acres of land in Brookings county, South Dakota. On March 23, 1888, plaintiff bought this note and mortgage, and they were duly assigned to him. Defendant at the same time, in consideration of the purchase, indorsed upon the note and executed an instrument as follows: “For value…
1Opinion of the CourtMitchell, J.
One Paulson executed a promissory note to one Penney, and at the same time executed to him a mortgage on certain real estate to secure its payment. Penney was the secretary of the defendant company, and, although the fact does not distinctly appear, and probably is not material, we infer that the note and mortgage, although taken in the name of Penney for convenience, were in fact the property of the defendant. Subsequently, and before the maturity of the note, the defendant sold it to the plaintiff, guarantying its collection, and at the same time, and as part of the same transaction, sold…
2Cases cited7 opinions
- Day v. ElmoreWisconsin Supreme Court · 1856
- Johnson v. ShepardMichigan Supreme Court · 1876
- Jones v. . AshfordSupreme Court of North Carolina · 1878
- Borden v. GilbertWisconsin Supreme Court · 1861
- Stone v. RockefellerOhio Supreme Court · 1876
2 more not listed; retrieve them via the Exa API.
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