Butler v. Ladue
Michigan Supreme Court
Appeal in Chancery from the Wayne Circuit. On the fifteenth clay of December, 1858, Ladue executed to the firm of Marvin & Stephens, a mortgage of lands, with condition and 'power of sale as follows: “Provided always, and these presents are upon this, express condition, that if the said party of the first part, shall and does well and truly indemnify and keep harmless the parties of the second part, and their”representatives, of and from all loss, costs or damages of any and…
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Appeal in Chancery from the Wayne Circuit. On the fifteenth clay of December, 1858, Ladue executed to the firm of Marvin & Stephens, a mortgage of lands, with condition and 'power of sale as follows: “Provided always, and these presents are upon this, express condition, that if the said party of the first part, shall and does well and truly indemnify and keep harmless the parties of the second part, and their”representatives, of and from all loss, costs or damages of any and every kind, by reason of their having become and intending yet to become indorsers or acceptors of the paper of said…
1Opinion of the Court
By the Court :
The bill in this case was filed to foreclose a mortgage, which is claimed by defendant to be one of indemnity, upon which no relief could be asked until the parties should be damnified by paying the debts secured. Complainants, on the other hand, claim that the mortgage was conditioned not only to indemnify after damage, but to pay the debts; and that a right of action accrued at once on non-payment, as decided in Hall v. Nash, 10 Mich. 303.
1 The mortgage, after an ordinary condition to indemnify and save harmless, proceeds: “and if said party of the *180first part shall promptly…
2Cases cited1 opinion
- Hall v. NashMichigan Supreme Court · 1862
3Cited by4 opinions
- Durham v. CraigIndiana Supreme Court · 1881
- Stuart v. WordenMichigan Supreme Court · 1879
- Equitable Trust Co. v. Barlum Realty Co.Michigan Supreme Court · 1940
- Lane v. WestmorelandSupreme Court of Alabama · 1885