Hubbard v. Jasinski

Citations

• 46 Ill. 160

Syllabus

<p>1. Jurisdiction in chancery—remedy at law. A mortgagor of land, having obtained a release of the mortgage, sold and conveyed the premises, by deed with covenant of warranty, to a third person. The mortgagee afterwards filed his bill against the grantee of Ms mortgagor, to foreclose: Held, that the mortgagor might maintain a bill in equity to enjoin the suit for foreclosure, settle the question of payment of the mortgage, and have it canceled upon the record, and need not postpone the assertion of his rights in that regard, until he should be sued upon his covenant of warranty by Ms grantee, when he might set up Ms payment of the mortgage in the suit at law.</p> <p>2. Release—by one of two mortgagees—assent and ratification of the other. Where one of two mortgagees releases the mortgage, if the other assents thereto verbally, and accepts a part of the money paid to obtain the release, with full knowledge of the circumstances, he will be bound by such release.</p>