Tilford v. Allen
Tilford v. Allen
Opinion of the Court
Opinion by
The interest coupons annexed to the notes were signed by Bell and payable to bearer. They read as follows: βOn the 10th of
She was not paying it at the instance of the assignee nor at the instance of Thos. Bell, and there is no reason assigned why she wanted to take up those coupons. It may have been that she feared if the interest was not paid the whole sum would become due and the land would be sold at a sacrifice, and supposed that they wanted to use the interest, and by advancing the money she would hold the notes as the original payee did, and that the lien would be still retained. The appellants say that they did not want the money and would have accepted the money only as a payment- and in no other manner, while the appellee says that she supposed they wanted the money and accepted it, thereby substituting her to their rights so far as the lien was concerned. In the letter to appellants or their attorney the appellee says through her husband, after expressing a desire to pay the coupons due, that he wanted them assigned to his wife that she might have a claim to the amount of interest paid on the mortgaged land. Allen says he made the trade believing that his wife would occupy the same relation in respect to the coupons that the mortgagees did who held them, and that he signed an assignment for that purpose and was told that being payable to bearer it would have the same effect as if an assignment was made. The one party regarded it as a payment, and the other as a purchase or that the lien would be equal to that of the coupons unpaid on the principal bonds. It is certain that Mrs. Bell permitted her money to be used for that reason,
Case-law data current through December 31, 2025. Source: CourtListener bulk data.