Stromberg v. Lindberg
Supreme Court of Minnesota
This action was brought in the district eourt for Meeker county, and was tried before Brown, J., (a jury being waived,) who found the facts, in substance, as follows: On May 10, 1876, the plaintiff, a farmer, mortgaged a growing crop of wheat, comprising about 160 acres, to one Freeman, to secure the payment of $400, on October 1, 1876, with interest at seven per cent, per annum.
Read the full summary
This action was brought in the district eourt for Meeker county, and was tried before Brown, J., (a jury being waived,) who found the facts, in substance, as follows: On May 10, 1876, the plaintiff, a farmer, mortgaged a growing crop of wheat, comprising about 160 acres, to one Freeman, to secure the payment of $400, on October 1, 1876, with interest at seven per cent, per annum. On October 11, 1876, no part of the debt having been paid, Freeman assigned the mortgage to defendant. Prior to the assignment, the plaintiff had harvested the wheat, and stored it in his granary. The crop amounted…
1Opinion of the CourtGilfillan, C. J.
A chattel mortgage vests in the mortgagee the legal title, subject to be defeated by performance of the condition in the mortgage, a right or equity of redemption remaining in the mortgagor. Formerly, at law, the mortgagee’s title became absolute upon a default; but courts of law now accept the equitable rule, fhat the right of redemption continues until it is barred or foreclosed, in the manner provided by law or in the mortgage. See also Gen. St. c. 39, §§ 5-9. Where the mortgagee forecloses under the power of sale in the mortgage, he stands, with respect to the mortgagor’s rights in the…
2Cited by8 opinions
- Johnston & Son v. RobuckSupreme Court of Iowa · 1898
- Ulrich v. Security Investment Co.Hawaii Supreme Court · 1939
- Great Northern State Bank v. RyanCourt of Appeals for the Eighth Circuit · 1923
- Mathews v. Smith & CrittendenNebraska Supreme Court · 1882
- Croze v. St. Mary's Canal Mineral Land Co.Michigan Supreme Court · 1908
3 more not listed; retrieve them via the Exa API.