Noyes v. White
Supreme Court of Kansas
Error from Douglas District Court. Action brought by Noyes to foreclose a mortgage. On the 4th of April 1870, M. B. White, and L. 8. Steele and wife, executed to Richard Albrey, a mortgage to secure four promissory notes of that date, as follows: One for $500, payable in three months; one for $1,000, payable December 25th 1870; one for $400, payable January 20th 1871, and one for $1,000, payable in one year from date.
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Error from Douglas District Court. Action brought by Noyes to foreclose a mortgage. On the 4th of April 1870, M. B. White, and L. 8. Steele and wife, executed to Richard Albrey, a mortgage to secure four promissory notes of that date, as follows: One for $500, payable in three months; one for $1,000, payable December 25th 1870; one for $400, payable January 20th 1871, and one for $1,000, payable in one year from date. On the 22d of June 1870 the $400 note, the third in order of maturity, was transferred by Albrey to Griffith & Duncan. On the next day (June 23d) the two $1,000 notes, being the…
1Opinion of the Court
The opinion of the court was delivered by
Brewer, J.:
Can a mortgagee, holding two notes payable at different dates, and secured by one mortgage, transfer before the maturity of either, the note last to become due with the mortgage, so as to give to such last note priority in satisfaction out of the mortgaged property? We think he can, both on reason and authority. Both notes and mortgage are subjects of contract. The only parties originally having rights are the mortgagor and mortgagee. To the mortgagor, having pledged his real estate as security for both notes, it is immaterial which has…
2Cases cited3 opinions
- Grattan v. WigginsCalifornia Supreme Court · 1863
- Langdon v. KeithSupreme Court of Vermont · 1837
- Tate v. SullivanCourt of Appeals of Maryland · 1869
3Cited by7 opinions
- Corbin v. KincaidSupreme Court of Kansas · 1885
- Stanley v. Farmers' BankSupreme Court of Kansas · 1877
- Curtis v. BuckleySupreme Court of Kansas · 1875
- Richardson v. McKimSupreme Court of Kansas · 1878
- Preston v. MorsmanNebraska Supreme Court · 1905
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