Amalgamated Gold Mines Co. v. Ridgely

Citations

• 100 Wash. 99
• 170 P. 355
• 1918 Wash. LEXIS 703

Syllabus

<p>Principal and Surety — Stockholders — Money Borrowed for Corporation—Right to Contribution. Where six stockholders of a mining company borrowed money upon their note for the use of the company and the company gave a note and mortgage to one of them as trustee to create a fund for their payment, there was but one transaction constituting the stockholders sureties for the company, so that two of the stockholders paying the indebtedness are entitled to contribution from the others to the extent of their payments.</p> <p>Trusts—Resulting Trust. Where a trustee holding a mortgage to secure himself and other sureties foreclosed and purchased the property, a trust resulted in favor of the other sureties in the proportion that each had paid on the debt, less the money necessarily expended by the trustee.</p> <p>Mortgages—Foreclosure — Attorney’s Fees — Statutes. Upon the foreclosure of a mortgage, under Rem. Code, § 475, the court, in fixing a reasonable attorney’s fee, cannot exceed the amount contracted to be paid.</p>