Chappell v. Smith
Chappell v. Smith
Opinion of the Court
This is an appeal by the plaintiff from so much of a decree of the district court for Sheridan county as allows interest upon the amount due the Michigan Sayings & Loan Association, pending an appeal by the latter from the original decree of foreclosure. The proceeding as instituted by the plaintiff was to enforce a mechanic’s lien for labor and material furnished in the erection of a certain building in the village of Hay Springs, in said county. A decree was in due time entered, by which the equities of the plaintiff and the several defendants were determined and from which the Michigan Savings & Loan Association prosecuted an appeal to this court. The appeal thus taken resulted in an order so modifying the decree below as to give the mortgage of the appellant priority over the lien of the plaintiff, and remanding the cause with direction to determine the equities of the parties affected, in accordance with the opinion therein filed. (See Chappell v. Smith, 40 Neb., 579.) The district court, as we infer from the briefs of counsel, upon the entry of
It is argued that the second decree is erroneous (1) because the property in question was purchased by the savings and loan association through its trustee, John B. Corliss; (2) because said association having acquired title to the property, by means of its supersedeas undertaking, prevented enforcement of other liens thereon during the pendency of its appeal. It is not, according to our understanding of the record, necessary to pursue the subject by inquiring what would have been the equities of the parties in the absence of the stipulation to which reference has been made. It is sufficient for the purpose of the case actually presented that the parties in interest expressly stipulated for the sale of the property and confirmation thereof, notwithstanding the supersedeas undertaking of the defendant association; that such sale should be without prejudice to the rights of any party to appeal from the original decree; and that any party to such decree might purchase the property and receive a deed therefor. It was by said agreement further recited that the intention thereof was “to substitute the proceeds of such sale for the property affected by the decree and to hold said proceeds in court until the .priorities of the parties and their rights thereto respectively may be finally determined.” The necessary inference from the record is that the defendant association, as purchaser of the mortgaged property, advanced the full consideration therefor in cash, and that as such pur
Decree affirmed.
Reference
- Full Case Name
- James Chappell v. William H. Smith, Impleaded with Michigan Savings & Loan Association
- Status
- Published