Booth v. Hoskins

Citations

• 75 Cal. 271
• 17 P. 225
• 1888 Cal. LEXIS 527

Syllabus

<p>Written Contract—Loan—Parol Agreement to Extend Time of Payment. — Where a contract of loan is executed in writing, a parol agreement to extend the time of payment, if made at the time of the loan, cannot change the terms of or he substituted for the written contract; and if made subsequently, cannot create a new or continuing contract, so as to take the original contract out of the operation of the statute of limitations.</p> <p>Mortgage—Deed to Secure Indebtedness.—A deed absolute on its face accompanied by a contemporaneous defeasance showing that it was made to secure the payment of a sum of money loaned by the grantee to the grantor, and payable at a future day with interest, is a mortgage.</p> <p>Id. — Bar of Mortgage Debt — Foreclosure.—A mortgagee is not entitled to have his mortgage foreclosed, when the debt to secure which it was given is barred by the statute of limitations.</p> <p>Id.—Quieting Title by Mortgagor—Payment of Debt—Condition. — In an action by the mortgagor, brought after the mortgage debt had become barred by the statute of limitations, to quiet his title against the claim asserted by the mortgagee under the mortgage deed, the court may impose, as a condition to the relief asked, that the plaintiff first pays the amount of the mortgage debt.</p>