Rankin v. Schultz
Supreme Court of Iowa
Appeal from Wright District Court.- — Hon. O. G. Lee, Judge. Suit in equity to subject certain personal property to ■tbe payment of a judgment beld by plaintiff ,against Herman L. Schultz, to set aside a mortgage upon said goods held -by H. C. Schultz, for the appointment of a receiver, and for other equitable relief.
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Appeal from Wright District Court.- — Hon. O. G. Lee, Judge. Suit in equity to subject certain personal property to ■tbe payment of a judgment beld by plaintiff ,against Herman L. Schultz, to set aside a mortgage upon said goods held -by H. C. Schultz, for the appointment of a receiver, and for other equitable relief. The trial court refused to set aside the mortgage, but directed a sale of the property, and out of the proceeds ordered the receiver to first pay the amount found due on the mortgage, and the remainder upon-plaintiff’s-judgment. Defendants appeal. —
1Opinion of the Court
Deemer, J. —
The action is a creditor’s bill, or rather an equitable levy upon a drug stock in the town of Belmond to subject the same to the payment of a judgment held by plaintiff against defendant Herman L. Schultz. It appears from the testimony that defendant, Herman L, Schultz, acquired a one-half interest in a certain drug stock and business in the town of Belmond some time in the year 1904. At that time the stock was invoiced at something like $7,800. In December of the year 1905-this defendant purchased the half interest owned by his partner Kenefick, and thenceforth, and until…
2Cases cited8 opinions
- O'Brien v. StambachSupreme Court of Iowa · 1897
- King v. Wallace Bros.Supreme Court of Iowa · 1889
- Martin Bros. & Co. v. LesanSupreme Court of Iowa · 1906
- McAfee v. BusbySupreme Court of Iowa · 1886
- Hirsch, Elson & Co. v. IsraelSupreme Court of Iowa · 1898
3 more not listed; retrieve them via the Exa API.
3Cited by2 opinions
- S. Hanson Lumber Company v. De MossSupreme Court of Iowa · 1961
- First Trust Joint Stock Land Bank v. OgleSupreme Court of Iowa · 1928