Hershey v. Hershey
Supreme Court of Iowa
Appeal from Muscatine District Court. • From the petition it appears that these parties on and prior to the 19th of May, 1862, had a controversy in relation to a certain steam mill property, and on that day entered into an agreement in substance, as follows: For the purpose of settling the value of the interest of said plaintiff in said property, three persons were selected to appraise the same, and after the value is ascertained as aforesaid, said Jacob Hershey agrees to…
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Appeal from Muscatine District Court. • From the petition it appears that these parties on and prior to the 19th of May, 1862, had a controversy in relation to a certain steam mill property, and on that day entered into an agreement in substance, as follows: For the purpose of settling the value of the interest of said plaintiff in said property, three persons were selected to appraise the same, and after the value is ascertained as aforesaid, said Jacob Hershey agrees to sell said interest to said Benjamin Hershey at the valuation thus fixed; and the said Benjamin agrees to purchase the same…
1Opinion of the Court
Wright, Ch. J.
1. Contract: installments of interest. Appellant insists that plaintiff’s remedy is either by bill ■ in. chancery for a foreclosure, under section 3691 of the Revision, or by an action at’ law at the end of five years. And under this proposition he maintains, that the true construction of the contract is, that defendant was .to pay, at the end of five years, the amount of the award with the interest in the contract, with six per cent interest upon any unpaid installments of interest.
The language of this agreement does not differ from that of the mortgage, in the case of Bahr v.…
2Cases cited1 opinion
- Bahr v. ArndtSupreme Court of Iowa · 1859
3Cited by5 opinions
- Prichard v. MulhallSupreme Court of Iowa · 1905
- Ragan v. DaySupreme Court of Iowa · 1877
- Stephenson v. NeppelSupreme Court of Iowa · 1921
- Bowman v. NeelyAppellate Court of Illinois · 1890
- Yeadon v. Farmers Elevator of ScrantonSupreme Court of Iowa · 1938