De Jarnatt v. Peake

Citations

• 123 Cal. 607
• 56 P. 467
• 1899 Cal. LEXIS 1126

Syllabus

<p>Agency of Receiver—Purchase of Mortgage—Foreclosure against Decedent—Validity of Contract.—A receiver appointed in a foreclosure suit against a deceased mortgagor, may make a valid contract for an agreed commission to act as an agent in negotiating the purchase by third parties of the note and mortgage in suit for full consideration, with the view of acquiring title to the mortgaged land by the foreclosure, if it does not appear that the agent did any act as receiver by which the purchasers were misled, and if no creditors of the deceased mortgagor complain. Such contract is not contrary to law, or to good morals, or public policy.</p> <p>Id.—Action upon Check nob Commissions.—A check given to such receiver by the purchasers, for his agreed commissions as such agent, is valid; and, upon stoppage of payment, he may maintain an action thereupon against the makers.</p>