Holiday Inns, Inc. v. Sucher-Schaefer Investment Co.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding future advance clause securing “indebtedness and liabilities ... now or hereafter owing ... from the Mortgagor” to be unenforceable as to subsequent loans to co-mortgagor acting alone
• court determined subsequent notes signed by only one of the co-mortgagors of the original mortgage containing the dragnet clause was not secured by the original mortgage
• “Where there are three co-mortgagors and the dragnet clause refers to these mortgagors as ‘party of the first part’ and ‘grantor’ and covers the indebtedness of the ‘grantor,’ notes subsequently signed by only one of the co-mortgagors are not secured by the mortgage.”

Source: CourtListener parenthetical corpus (CC0).