Hewitt v. Walters

Citations

• 21 Idaho 1
• 119 P. 705
• 1911 Ida. LEXIS 147

Syllabus

<p>Beceivership — Beceiver’s Sale — Jurisdiction op Court — Brioritt op Beceiver’s Certificates — -Minimum Bid to be Considered — Interest on Certificates — Sale Without Bedemption.</p> <p>(Syllabus by the court.)</p> <p>1. A court of equity has the power and authority to appoint a receiver to take charge of the property of a party to an action or proceeding on proper showing, for the purpose of taking care of and preserving and protecting the property and making payment of the claims of creditors out of the same, and has the authority and jurisdiction to decree that the charges and expenses of the receiver incurred in the discharge of his duty shaH become a prior claim and lien against the property paramount to all existing mortgages or other liens or encumbrances thereon.</p> <p>2. It is not an exeess of the jurisdiction of a court of equity in ordering a sale of property in the hands of the receiver to order and direct that no bid shall be received or aeeepted which is under a fixed and definite sum determined by the court as the minimum bid that shall be received or accepted for sueh property.</p> <p>3. The court has no power or authority to order or direct the payment of interest on receiver’s certificates in exeess of the maximum rate of interest allowed by the statute on contract or at any rate that would be usurious under the statute, but it is not an excess of jurisdiction for the court to allow a rate of interest in exeess of the rate fixed by the statute to be allowed on money judgments and decrees of courts and in eases where no rate is contracted.</p> <p>4. Where H. held a mortgage against the property of the G-. W. B. S. Co. and thereafter, at the instance of a creditor of - sueh company, a receiver was appointed to take charge of the property and assets of the company, and H. instituted an action for the foreclosure of his mortgage and brought in parties asserting some lien, claim or encumbrance upon the property covered by H.’s mortgage, and such pro