Campbell v. Trotter

Citations

• 100 Ill. 281
• 1881 Ill. LEXIS 90

Syllabus

<p>Mortgage—satisfaction, when set aside and original rights restored. Where a mortgagee, for the purpose of extending the time of payment, took new notes secured by a new mortgage on the same land, giving up the old notes, and entering satisfaction of the old mortgage, in ignorance of the fact that the mortgagor had, only a day or two before, given another mortgage to a third person, which was on record at the time, it was held, that in equity his lien on the land wa-s not made subordinate to that of the intervening- mortgage, but the court, on bill, would reinstate his prior hen; and the fact that the new notes were, by mistake in calculation, taken for more than was due on the old ones, would not prevent such relief, nor would the fact that by the new notes interest was obtained on interest already due.</p>