Union National Bank v. Rich
Michigan Supreme Court
Appeal from Wayne; Lillibridge, J.' Bill by the Union National Bank of Detroit against Charles A. Rich, trustee, and others, to compel the application of certain of the proceeds of a trust mortgage to the payment of a note held by complainant, and for other relief in connection therewith. Complainant appeals from a decree dismissing its bill.
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Appeal from Wayne; Lillibridge, J.' Bill by the Union National Bank of Detroit against Charles A. Rich, trustee, and others, to compel the application of certain of the proceeds of a trust mortgage to the payment of a note held by complainant, and for other relief in connection therewith. Complainant appeals from a decree dismissing its bill. In support of the contention that complainant was a beneficiary under the terms of the mortgage, or was at least entitled to be subrogated to the rights of the surety therein, counsel cited: McMullen v. Neal, 60 Ala. 552;. Ijames v. Gaither, 93 N. C.…
1Opinion of the CourtLong, J.
The complainant filed its bill in the Wayne circuit court in chancery, charging, among other things, that Oscar E. Rasch & Co., a special partnership, composed of August Rasch and Oscar E. Rasch, father and son, were wholesale, retail, and manufacturing furriers in Detroit; that on May 12,1894, the said firm and defendant August Rasch were indebted to the complainant on a note of $8,000, dated February 7, 1894, payable in. 90 days; that it was a firm note, indorsed by August Rasch before delivery; that, among other things, for the purpose of providing for the payment of this note and other…
2Cases cited2 opinions
- Macklin v. Northern BankCourt of Appeals of Kentucky · 1885
- Dick v. MoonSupreme Court of Minnesota · 1879
3Cited by9 opinions
- D. A. Tompkins Co. v. Catawba MillsU.S. Circuit Court for the District of South Carolina · 1897
- Linder v. Llewellyn's Admr.Court of Appeals of Kentucky · 1921
- Albion State Bank v. KnickerbockerMichigan Supreme Court · 1900
- Union National Bank v. RichMichigan Supreme Court · 1898
- Hoesch Handel Ag, Formerly Known as Hoesch Handel Gmbh v. Charles GoldfarbCourt of Appeals for the Sixth Circuit · 1976
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