Williams v. Verity
Missouri Court of Appeals
Appeal from Nodaway Circuit Court. — Ho». Gallatin Craig, Judge. (1) The trial court erred in applying the doctrine of estoppel to the facts in this case. A building and loan association can not arbitrarily fix any period when its shares shall mature, and a borrowing stockholder is entitled to have his deed of trust given to secure the payment of his monthly, dues released only when his monthly dues paid and the, earnings thereon bring his stock to par.
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Appeal from Nodaway Circuit Court. — Ho». Gallatin Craig, Judge. (1) The trial court erred in applying the doctrine of estoppel to the facts in this case. A building and loan association can not arbitrarily fix any period when its shares shall mature, and a borrowing stockholder is entitled to have his deed of trust given to secure the payment of his monthly, dues released only when his monthly dues paid and the, earnings thereon bring his stock to par. Any contract, agreement, letter or statement to the contrary is beyond the powers of the association and not only an act in excess of its…
1Opinion of the CourtSmith, P. J.
In 1891 the Missouri Guarantee Savings and Building Association of Hannibal, a building and loan, company, which, for the sake of brevity, we shall hereinafter refer to: as the building association, advanced to one Yeaman, a holder of twelve shares of its stock of the par value of $1,200, the sum of $1,200, and the latter executed to the former a, deed of-trust on lots 1 and 2 in the city of Maryville, and also on his said stock, to secure the payment of the monthly dues, interest and premiums, etc., and which said deed was properly recorded.' Some time -afterwards, Yeaman sold lot 1, and…
2Cases cited3 opinions
- Manufacturers' & Traders' Bank v. HazardNew York Court of Appeals · 1864
- City of Goodland v. Bank of DarlingtonMissouri Court of Appeals · 1898
- Caston v. StaffordMissouri Court of Appeals · 1902
3Cited by6 opinions
- Hicks v. National Surety Co.Missouri Court of Appeals · 1913
- Glendale Lumber Co. v. Beekman Lumber Co.Missouri Court of Appeals · 1911
- McAlister v. GrahamMissouri Court of Appeals · 1918
- Weber v. Ancient Order of PyramidsMissouri Court of Appeals · 1904
- Hough v. St. Louis Car Co.Missouri Court of Appeals · 1914
1 more not listed; retrieve them via the Exa API.