Powell v. Smith
Michigan Supreme Court
Appeal iu Chancery from Wayne Circuit. This was a bill to foreclose a mortgage, dated August ,1, 1852, and executed by defendant Smith, and his wife, to secure his promissory note of even date, for one hundred and fifty-six dollars and twenty-six cents. Defendant Evans subsequently purchased the mortgaged premises, and -while he was owner of the same, paid to the holders of the mortgage the amount due upon it, and took an assignment thereof to himself.
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Appeal iu Chancery from Wayne Circuit. This was a bill to foreclose a mortgage, dated August ,1, 1852, and executed by defendant Smith, and his wife, to secure his promissory note of even date, for one hundred and fifty-six dollars and twenty-six cents. Defendant Evans subsequently purchased the mortgaged premises, and -while he was owner of the same, paid to the holders of the mortgage the amount due upon it, and took an assignment thereof to himself. He afterwards borrowed two hundred dollars of William Powell, giving his promissory note therefor, and assigning said mortgage to Powell as…
1Opinion of the CourtCooley, J.
The owner of lands who treats a mortgage upon the lands, which has been assigned to him, as a valid instrument, and transfers it as such, is estopped from insisting, as against the assignee or any one claiming under him, that in his hands it had merged and disappeared in the fee. There is nothing to take this case out of the rule. It is immaterial that remedy at law upon the note which accompanied the mortgage was barred; that would not affect the validity of the mortgage or the remedy upon it.—Mich. Ins. Co. v. Brown, 11 Mich., 265. It is also immaterial that the owner of the lands…
2Cases cited1 opinion
- Michigan Insurance v. BrownMichigan Supreme Court · 1863
3Cited by12 opinions
- Chewett v. MoranU.S. Circuit Court for the District of Eastern Michigan · 1883
- Spicer v. BonkerMichigan Supreme Court · 1881
- Sater v. HuntMissouri Court of Appeals · 1896
- Damon v. DeevesMichigan Supreme Court · 1885
- Wettlaufer v. AmesMichigan Supreme Court · 1903
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