Coonrod v. Kelly

Citations

• 119 F. 841
• 56 C.C.A. 353
• 1902 U.S. App. LEXIS 4729

Syllabus

<p>1. Equity—Sufficiency of Evidence to Support Bill.</p> <p>Where answer under oath was not waived, and the answers so made were responsive to the bill, and were supported by the testimony of the defendants, who were called as witnesses by complainant, the force of such testimony is not overthrown by the fact that it is improbable or open to suspicion under the peculiar facts and circumstances of the case, and the facts alleged in the bill can only be established by affirmative evidence, either direct or circumstantial.</p> <p>S. Mortgages—Failure to Record—Effect under New Jersey Statute.</p> <p>Under Gen. St. N. J. p. 2106, § 22, which makes every mortgage void against a subsequent bona fide mortgagee for a valuable consideration without notice thereof, unless it is lodged for record at or prior to the time of the lodging for record of the subsequent mortgage, a purchaser of a mortgage having priority of record is entitled to rely on the priority of lien which such record gives, and is not chargeable with notice from the record that a mortgage subsequently recorded was in fact prior in time because it bears a prior date, no presumption arising from the facts so appearing that it was actually delivered on the day of its date.</p> <p>8. Same—Rights of Assignee.</p> <p>The assignee of a mortgage takes all the rights of his assignor, and if, in the hands of the assignor, it was entitled to priority over another mortgage under the statute because of its priority of record, and of the fact that it was taken by the assignor for a full consideration, and without notice that the other mortgage had. in fact been previously executed, it has the same priority in the hands of the assignee, although he may have taken it with knowledge of the facts.</p> <p>4. Same—Right of Subrogation to Lien of Canceled Mortgage—Innocent Assignee of Intervening Mortgage.</p> <p>Complainant made a loan to an owner of property, taking a mortgage therefor. There was a prior mortgage on the proper