Blood v. Shepard

Citations

• 69 Kan. 752
• 77 P. 565

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Pledges—Subject to Strict Foreclosure. The law of pledges is materially different from that of mortgages. The lien resulting from a pledge is subject to strict foreclosure; that resulting from a mortgage is not.</p> <p>2. -Mortgage Securing Pledge Foreclosed and Property Purchased by Pledgee—Pledgee's Title Defined. Where a mortgage securing certain choses in action pledged for the payment of a debt is foreclosed, and the pledgee takes title and pos- ' session of the property under a sheriff’s deed, the title thus vested in him becomes, by substitution, the pledge, and is subject to the law of pledges, which entitles him to a decree quieting his title • upon failure of the pledgor to pay his debt within a reasonable time.</p>