Burr v. Borden

Citations

• 61 Ill. 389

Syllabus

<p>1. Sale under power in mortgage'—advertisement. Where a mortgage sale is announced to be held on the 1st day of March, 1860, between the hours of nine a. m. and four p. m., the advertisement is sufficient, the hours belonging to the ordinary business portion of the day.</p> <p>2. Sale on credit—its validity. Where such a sale is advertised as for cash, and at the sale the mortgagee states that he will not start it at less than the amount of the mortgage, and a third party bids that amount, there being no other bidders, and after it is struck off to him the mortgagee gives him credit on his bid, and there is no proof that this was done in pursuance of a previous arrangement, such an extension of payment, whatever it may be, is wholly immaterial and does not vitiate the sale.</p> <p>. 3. It seems that, even if there had been an understanding between them previous to the sale, that, as to the amount going to the mortgagee, the intending purchaser might, in case he should purchase, consider it a loan at ten per cent, such an arrangement would not, of itself, have vitiated the sale; for, even if it occurred, it did not injure the mortgagor, but was for his benefit.</p> <p>4. Fraudulent sale—evidence required. Where it is charged that the purchaser at a mortgage sale really bought the property for the mortgagee and not for himself, but being called by the complainants as witnesses, both emphatically deny it, but about a year and nine months after the sale the purchaser, who had meantime been drawing the rents of the property, then conve3red the fee to the mortgagee, the inference from such a conveyance is not so strong as to overturn their positive testimony.</p> <p>5. Degree oe fraud—rule amended. Instead of saying that sales under a power in a mortgage will be set aside on “the slightest proof of fraud or unfair conduct,” the rule would be more accurately stated by saying “upon proof of the slightest fraud or unfair conduct.” But in a case ,of this kind, as well as i