Atlantic Trust Co. v. Behrend
Atlantic Trust Co. v. Behrend
Opinion of the Court
The opinion of the court was delivered by
This appeal is from a decree foreclosing a mortgage, and the only reason suggested why such decree should be reversed is that the evidence was not sufficient to show that the mortgage and note accompanying the same had been assigned to the plaintiff in the action. It was claimed that the evidence was insufficient for two reasons; first, that the Lombard Investment Company to whom the mortgage was made had no power under its articles of incorporation as set out in the pleadings to make the assignment, and second, that if it did have such power, the purported assignment was not shown to have been executed by authority of the corporation.
\Ve do not find it necessary to enter into the technical discussion contained in the briefs of counsel, for the reason that the defendant was not interested in this assignment except to the extent of seeing that the Lombard Investment Company had so parted with its title to the plaintiff that it could not afterwards claim ownership of the note and mortgage. Hence, it is immaterial whether or not all the forms prescribed for the assignment of the mortgage had been observed, if enough had been done by the mortgagee to estop it
The decree will be in all things affirmed.
Gordon, Scott, Anders and Dunbar, JJ., concur.
Reference
- Full Case Name
- Atlantic Trust Company, Trustee v. Frederick C. Behrend, W. H. Plummer, et ux.
- Status
- Published
- Syllabus
- MORTGAGES — FORECLOSURE BY ASSIGNEE — SUFFICIENCY OF TITLEESTOPPEL. Where an assignment of a mortgage held by a mortgage company has been executed by one of its vice-presidents, under the seal of the corporation, and it is shown that it had been the custom of this officer for a considerable period of time prior thereto, to assign like securities, the corporation is estopped to afterwards question his authority in that respect. If an assignment of a mortgage is sufficient to estop the mortgagee from disputing it, the mortgagor cannot raise any question as to the validity of the assignment in an action of foreclosure instituted by the assignee.