Evans v. Forstall

Citations

• 58 Miss. 30

Syllabus

<p>1. Estoppel. By conduct. Waiver of mortgage.</p> <p>It was arranged between E. and B. that A. should ship his cotton to the former, who was a cotton-factor, and should receive some advances thereon. B. made the advances to A., but before he could get any of the cotton he was, compelled to pay the rent of the land on which it was produced. B. had no notice of the lien for rent until after he made the advances to A. After paying the rent, B. received the cotton, which he sold, and applied the proceeds to the payment of the advances to A. and for the rent, except a small surplus. E. then notified B. that he had a mortgage on the cotton, and demanded the full amount realized therefrom, except what was paid for rent. B. refused this demand, and E. filed his bill in chancery to compel compliance. Held, that B. must be regarded as having waived his rights under his mortgage; and he is estopped by his conduct to assert his claim as against B.</p> <p>2. Same. Acts and declarations. Constructive notice by record.</p> <p>A purchaser of property from a mortgageor is not bound by constructive record notice of the mortgage thereon when the mortgagee, by his acts or declarations, asserts that he has no claim on the propertj'.</p>