Boise v. Knox
Boise v. Knox
Opinion of the Court
The court are of opinion that the directions to the jury were right. The mortgage was an actual, though conditional transfer and conveyance of the cattle and goods, by which the property vested immediately in the mortgagee, defeasible on a condition subsequent; and there being no stipulation that the possession should remain with the mortgagor, the right of possession followed as incident to the right of property, and the possession of the mortgagor was that of the mortgagee. And it made no difference as to the property and the possession, and the legal rights of the mortgagee therein, whether the debt for which they were hypothecated was due or not. Woodruff v. Halsey, 8 Pick. 333.
Knox took nothing, by his subsequent bill of sale from Clark, but a right of redemption. The agreement between Clark and Boise, of 13th of March, to accelerate the payment of the note, could not be injurious to Knox, because it did not affect the right of possession that was in the plaintiff before ; nor the right of redemption, which, as against Knox, he could not foreclose till sixty days after April 1st 1844, the time originally fixed by the mortgage.
If any reliance was placed on a second agreement, made by the plaintiff at the time of the memorandum, for accelerating the payment of the note, that the mortgagor should retain
Exceptions overruled.
Reference
- Full Case Name
- Watson E. Boise v. Samuel Knox & another
- Status
- Published