Gair v. Tuttle
U.S. Circuit Court for the District of Western Missouri
. At Law. Action by William Gair against Seth Tuttle and others to recover a surplus due to plaintiff as grantor in a deed of trust to secure debts, remaining after a sale of the trust subject, which was land. STATEMENT BY PHILIPS, DISTRICT JUDGE.
Read the full summary
. At Law. Action by William Gair against Seth Tuttle and others to recover a surplus due to plaintiff as grantor in a deed of trust to secure debts, remaining after a sale of the trust subject, which was land. STATEMENT BY PHILIPS, DISTRICT JUDGE. One Da.vis, being the owner of the land in question, mortgaged it to the Lombard Investmer t Company to secure a debt of, say, about $2,500. He gave two mortgages, — one for the principal sum, and one for the annually accruing interest. Afterwards ho sold the land to the plaintiff Gair for over $5,000. In payment therefor, Gair executed his note to…
1Opinion of the Court
Philips, District Judge,
(after stating the facts.) By the express provision's of the mortgage made by Gair to Morris, trustee, the proceeds arising from the foreclosure sale were to be applied — First, to the payment of the costs of the sale and expenses attending the execution of the trust; second, to the satisfaction of the debt from Gair to Davis; and, third, the surplus, if any, was to go to the mortgagor, Gair. This would have been so by operation of law. When the trustee executed and delivered to the purchasers the deed, and they accepted and put the same to record, their obligation at…
2Cases cited29 opinions
- Walker's Administrator v. DeaverSupreme Court of Missouri · 1883
- Capital Bank v. ArmstrongSupreme Court of Missouri · 1876
- Rogers v. GosnellSupreme Court of Missouri · 1873
- Tracy v. Union Iron Works Co.Supreme Court of Missouri · 1891
- Smith v. . TracyNew York Court of Appeals · 1867
24 more not listed; retrieve them via the Exa API.