Kienbaum v. Rathfon Reduction Works

Citations

• 107 Wash. 115
• 181 P. 10
• 1919 Wash. LEXIS 736

Syllabus

<p>Mines and Minerals (16-21)—Conveyances and Contracts — Agreement to Secure Advances—Construction. An agreement by parties making advances to complete the purchase of mining property, by which they promise to pay, on or before a certain date, a certain obligation of the company upon the following terms and conditions, viz: by paying a pro rata share of royalties received by them in the operation of the mine, up to the date mentioned, and if it is not then paid, the remainder to be assumed by the mining company, is not a binding contract to pay the account in full, but only to pay the pro rata share of the royalties received.</p> <p>Same (16-21). Where a deed to mining property was given to secure advances made by plaintiffs, who promised to pay a pro rata share of royalties received by them in the operation of the mine to be applied on a certain trustee account (one of the obligations of the company), the promise to pay the royalties is not satisfied by crediting the amount on the obligations of the company to the plaintiffs: but payment of the same for the benefit of the parties holding the trust account is a condition precedent to plaintiff’s action to foreclose the deed as a mortgage securing the advances.</p> <p>Mortgages (243) —Foreclosure — Attorney’s Fees—Reasonable Amount. In a suit for the foreclosure of a deed to secure advances which did not provide for attorney’s fees for its foreclosure, only the statutory costs as attorney’s fees can be allowed.</p> <p>Bills and Notes (144)—Actions—Attorney’s Fees. In an action on a promissory note for $8,572 and a reasonable attorney’s fee, in which the court found a balance due of $587, the sum of $300 is a sufficient allowance for attorney’s fees.</p>