Mathews v. Switzler
Supreme Court of Missouri
Appeal from First District Court. I. The note sued on is not entitled to bé paid first .out of the proceeds of the.sale of -the trust property, to the entire exclusion of the other two. II. Defendant does not stand in the same relation to the deed of trust as the plaintiff. The deed was made to secure the plaintiff, and not to secure the defendant.
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Appeal from First District Court. I. The note sued on is not entitled to bé paid first .out of the proceeds of the.sale of -the trust property, to the entire exclusion of the other two. II. Defendant does not stand in the same relation to the deed of trust as the plaintiff. The deed was made to secure the plaintiff, and not to secure the defendant. True, an indorser has the right to avail himself of the benefit of all the securities held by the creditor for-the payment of the debt, but not until he pays the debt. Plaintiff-could have sued the defendant on the note before resorting to the deed…
1Opinion of the CourtCuRRiER, Judge
The plaintiff held three notes against a third party, maturing at successive- periods, which were secured by a deed of-truSt upon real-estate. - -After -the notes had all matured, a sale was had under the deed, and the entire net proceeds of the property sold were applied upon the notes last- maturing, nothing being applied upon the-first. -The defendant was surety upon ■ the last mentioned note, and this suit is brought to recover from him the sum due upon it.
The defendant’s answer alleges, in -substance, that the note sued on has been satisfied and paid from the proceeds of the déed of…
2Cases cited3 opinions
- Kyner v. KynerSupreme Court of Pennsylvania · 1837
- Mitchell v. LadewSupreme Court of Missouri · 1865
- Crump v. McMurtrySupreme Court of Missouri · 1844
3Cited by22 opinions
- Wood v. CallaghanMichigan Supreme Court · 1886
- Consolidated Naval Stores Co. v. WilsonSupreme Court of Florida · 1921
- Pope v. Transparent Ice Co.Supreme Court of Virginia · 1895
- Kortlander v. ElstonCourt of Appeals for the Sixth Circuit · 1892
- First National Bank of Milwaukee v. FinckWisconsin Supreme Court · 1898
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