Pringle v. Smith
Pringle v. Smith
Opinion of the Court
This is a suit in equity in which Erma A. Pringle is plaintiff and Arthur L. Smith and Bertha L. Smith, his wife, are
The following is a summary of appellants’ evidence by experts on the subject of value, viz.: Lawrence F. Farrell, $22,500; John M. Alexander, $22,000; Jess Nickles; $22,500; Clarence Dixon, $22,000; Conrad Schaaf, $20,000; John J. Bogan, $22,000; W. F. Etmund, $20,000; Average appraisal, $21,571.43.
Appellee’s similar evidence may be summarized as follows: E. M. Forsyth, $17,000; William F. Steele, $17,250; Harvey Rathbone, $17,250; Average appraisal, $17,166.67.
In addition, the record discloses two public sales, properly conducted, at which the highest bid was $15,000 (subject to unpaid taxes). There is no evidence in the record that would support the conclusion that a third sale would secure a greater price than that bid at the second sale. The amount bid at this sale, under the circumstances set forth in this record, is competent evidence of value. Douglass v. Hill, 29 Kan. 527.
Under all the evidence presented, the action of the district court for Lancaster county was clearly correct. No possibility of fraud exists. The facts involved are clearly within the rule this court has often announced that mere inadequacy of price in a foreclosure sale will not warrant the court’s refusing a confirmation, unless such inadequacy is so great as to shock the conscience of the court or to amount to evidence of fraud. Lemere v. White, 122 Neb. 676, 241 N. W. 105; Wallace v. Clements, 124 Neb. 691, 248 N. W. 58; First Trust Co. v. Rathbone, 132 Neb. 211, 271 N.
The action of the district court being in all respects correct, its judgment is
Affirmed.
Reference
- Full Case Name
- Erma A. Pringle v. Arthur L. Smith
- Status
- Published