Hellman v. Pogue

Citations

• 22 Ohio C.C. Dec. 559

Syllabus

<p>PLEDGES — PRINCIPAL AND SURETY.</p> <p>1. Purchase by Pledgee oe Pledged Property at Other than Public Sale does not Change Pledge Relation.</p> <p>A pledgee’s sale in his private office upon notice only to a limited number of persons is not a public sale, and in the absence of express agreement, the pledge is not terminated by his bidding off the property.</p> <p>2. Certificate of Sale by Pledgor to Pledgee after Payment by Surety of Judgment Secured by Pledge does not Defeat Subrogatory Rights of Surety in Property Pledged.</p> <p>A certificate of sale of pledged property to pledgee as purchaser at’ other than public sale, made by pledgor subsequent to payment by surety of judgment secured by pledge, does not defeat surety’s right of subrogation in the pledged property prescribed by Gen. Code 12194.</p>