Lawyers' Reports Annotated Bk. 13

Cover Lawyers' Reports Annotated Bk. 13
Lawyers' Reports Annotated Bk. 13
Lawyers Co-Operative Publishing Company
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269, 108 Ind. 279: Lee v.
Clark, 6 West. Kep. 205. 89 Mo. 568; Hagerman v.
8utton. 8 West. Kep. 812, 91 Mo. 519.
The indorsement of mortgage notes, and the delivery thereof, operate as an assignment of a mortgage securing them, and transfer the same equitable rights in the mortgagro that the holder had in the notes. Converse v. Michigan Dairy Co.
46 Fed. Rep. 18: Connecticut Mut. L. Ins. Co. v.
Talbot, 12 West. Rop. 289, 113 Ind. 873.
The assignee takes subject to all equities, latent or open,
...of third persons. The "equity " in such a case must be some subsisting claim to or against the thing in action Itself, or the fund which it rep- resents. 2 Pom. Eq. Jur. 109; Davles v. Austen, 1 Ves. Jr. 247, per Lord Thurlow: Mangles v. Dixon, 3 H. L. Cos. 702, 781; Bebee v. Bank of New York, 1 Johns. 629, 652; Bush v. Latbrop, 22 N. Y. 535: Schafer v. Rellly, 50 N. Y. 61; Union College v.
Wheeler, 61 N. Y. 88: Greene v. Wamick, 64 N. Y.
220, 224, 225; Murray v. Lyiburn, 2 Johns. Ch. 441, 448, 1 L.


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