Black v. Reno
U.S. Circuit Court for the District of Eastern Missouri
In Equity. On final hearing. Bill by Robert J. Black and others against John W. Reno and others. Decree for complainants. This is a bill in equity to foreclose a mortgage on real estate situate in Pemiscot county, in this state.
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In Equity. On final hearing. Bill by Robert J. Black and others against John W. Reno and others. Decree for complainants. This is a bill in equity to foreclose a mortgage on real estate situate in Pemiscot county, in this state. On the 13th day of September, 188G, the respondent W. A. Reno, then unmarried, executed his two several promissory notes to the co-respondent John W. Heno, each for-the sum of $5,000, payable to order, — the first of said notes being payable five years after date, and the second ten years after date; the first bearing 10 per cent, interest, and the second 8 per cent,…
1Opinion of the Court
PHILIPS, District Judge,
(after stating the facts.) 1. The claim of respondent Howard that he sustains the relation of an innocent purchaser is not tenable. It is the settled rule of law in this state, where the land is situated, and the transaction respecting the mortgage was had, that where negotiable notes, like these, secured by deed of mortgage or trust duly recorded, are transferred for value to a third party before maturity, such transfer not only carries the mortgage with the notes, but a subsequent acknowledgment of record by the mortgagee of satisfaction of the debt secured, or any…
2Cases cited17 opinions
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- Carpenter v. LonganSupreme Court of the United States · 1873
- De Wolf v. JohnsonSupreme Court of the United States · 1825
- Oates v. National BankSupreme Court of the United States · 1879
- Olcott v. BynumSupreme Court of the United States · 1873
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3Cited by3 opinions
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