[DOWNLOAD] "Northwestern F. & M. Ins. Co. v. Pollard" by Supreme Court of Montana # Book PDF Kindle ePub Free
eBook details
- Title: Northwestern F. & M. Ins. Co. v. Pollard
- Author : Supreme Court of Montana
- Release Date : January 18, 1925
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 65 KB
Description
Mortgage Foreclosure ? Promissory Notes ? Guaranty ? Subrogation. Waiver ? Definition. 1. Waiver is the voluntary abandonment or surrender by a capable person, of a right known by him to exist, with the intent that such right shall be surrendered and such person forever deprived of its benefit; it may be effected by implication as well as by agreement. Mortgages ? Guaranty ? Subrogation. 2. The guarantor of a mortgage debt can be subrogated to the rights of the mortgagee only by payment of the entire debt secured. Same. 3. Held, under the evidence in an action to foreclose a mortgage purchased by plaintiff, that plaintiff did not waive any rights by sending interest coupons for collection to the firm from which he purchased the mortgage which had guaranteed its payment; that the guarantor by payment of the interest coupons was not subrogated to the rights of the mortgagee, and that a bank claiming to be the holder of the coupons by virtue of pledgees sale was not entitled to share in the proceeds of the sale of the mortgaged property.
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