Current Law : a Complete Encyclopedia of New Law
Current Law : a Complete Encyclopedia of New Law
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Fishel V. Hamilton Storage Ware- house Co., 42 Misc. 532, 86 N. Y. S. 196.
21. Momrlch v. Schwartz [Neb.] 96 N. W.
636.
22. Though a foreclosure by advertise- ment Is stipulated. Momrlch v. Schwarta [Neb.] 96 N. W. 636.
23. Construing B. & C. Comp. § 6636.
Backhaus v. Buells, 43 Or. 558, 73 P. 342.
24. Backhaus v. Buells, 43 Or. 668, 73 P.
312.
3 Cur. Law.
CHATTEL MORTGAGES § 14.
697 The smt for foreclosure may be joined with an action for conversion of mortgaged property.^' An injunction being... necessary to the successful foreclosure of a chat- tel mortgage, it will be granted.^® The complaint must allege the ownership of the debt by plaintifE/'' and must conform to the ordinary rules of pleading.^' Nei- ther the corporation, alleged to be the owner of the mortgaged chattels, nor its re- ceiver having ever been in actual or constructive possession of the property, it is not necessary for the mortgagee to obtain leave of court before beginning proceed- ings to foreclose the mortgage as against the receiver.^* A mortgagee having the right of redemption left is a necessary party to an action to foreclose.'" Any per- son interested may intervene in the foreclosure proceedings and set up facts show- ing that the mortgagee has no right to foreclose.'^ The pendency of an action for the foreclosure of an alleged chattel mortgage, and in which a temporary in- junction has been procured restraining the sale or disposition of the property by the alleged mortgagor, places the property in constructive custody of the law.'^ On foreclosure it is competent for a court of equity to refuse to retain more of the property than is necessary to discharge the amount due.°* After forfeiture the mortgagee has the right to sell the property in satisfac- tion of his debt,'* and in exercising this right he must sell the property for the best price obtainable, which must be fair and reasonable, and failing to do so he is liable to the mortgagor.'" The mortgagee selling the property, consisting of various articles, en masse, is prima facie evidence of unfairness." The purchaser at foreclosure proceedings of a contingent interest takes absolute title upon its be- coming vested in the mortgagor." It being ordered that the sale should be con- firmed unless the mortgagee should show that his security was thereby endangered.
What to read after Current Law : a Complete Encyclopedia of New Law?
You can find similar books in the "Read Also" column, or choose other free books by Longsdorf, George Foster to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Fishel V. Hamilton Storage Ware- house Co., 42 Misc. 532, 86 N. Y. S. 196.
21. Momrlch v. Schwartz [Neb.] 96 N. W.
636.
22. Though a foreclosure by advertise- ment Is stipulated. Momrlch v. Schwarta [Neb.] 96 N. W. 636.
23. Construing B. & C. Comp. § 6636.
Backhaus v. Buells, 43 Or. 558, 73 P. 342.
24. Backhaus v. Buells, 43 Or. 668, 73 P.
312.
3 Cur. Law.
CHATTEL MORTGAGES § 14.
697 The smt for foreclosure may be joined with an action for conversion of mortgaged property.^' An injunction being... necessary to the successful foreclosure of a chat- tel mortgage, it will be granted.^® The complaint must allege the ownership of the debt by plaintifE/'' and must conform to the ordinary rules of pleading.^' Nei- ther the corporation, alleged to be the owner of the mortgaged chattels, nor its re- ceiver having ever been in actual or constructive possession of the property, it is not necessary for the mortgagee to obtain leave of court before beginning proceed- ings to foreclose the mortgage as against the receiver.^* A mortgagee having the right of redemption left is a necessary party to an action to foreclose.'" Any per- son interested may intervene in the foreclosure proceedings and set up facts show- ing that the mortgagee has no right to foreclose.'^ The pendency of an action for the foreclosure of an alleged chattel mortgage, and in which a temporary in- junction has been procured restraining the sale or disposition of the property by the alleged mortgagor, places the property in constructive custody of the law.'^ On foreclosure it is competent for a court of equity to refuse to retain more of the property than is necessary to discharge the amount due.°* After forfeiture the mortgagee has the right to sell the property in satisfac- tion of his debt,'* and in exercising this right he must sell the property for the best price obtainable, which must be fair and reasonable, and failing to do so he is liable to the mortgagor.'" The mortgagee selling the property, consisting of various articles, en masse, is prima facie evidence of unfairness." The purchaser at foreclosure proceedings of a contingent interest takes absolute title upon its be- coming vested in the mortgagor." It being ordered that the sale should be con- firmed unless the mortgagee should show that his security was thereby endangered.
What to read after Current Law : a Complete Encyclopedia of New Law?
You can find similar books in the "Read Also" column, or choose other free books by Longsdorf, George Foster to read onlineMoreLess
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