McCormick v. Bauer

Citations

• 122 Ill. 573
• 13 N.E. 852

Syllabus

<p>1. Stare decisis—as to decisions in the Supreme Court. The decision of a question by this court, when involved in a subsequent case in which the parties are not identical with those in the former case, can not be treated as res judicata; yet, on the principle of stare decisis, the holding is just as binding on this court as any of its decisious, and will govern it, unless some imperative reason appears for departing from it.</p> <p>2. Prior and junior incumbrancers—adjustment of equities between them—and when priority of right is lost. A junior incumbrancer, acting in his own interest, and to accomplish a purpose of his own by doing something to make his own security available,—as, in defeating the lien of a prior deed of trust on the same property,—will not thereby be entitled to any superior equity over another incumbrancer whose lien was subject to that so defeated, but prior to the contesting creditor, or be entitled to be reimbursed for the expenses in defeating the first lien, when the intervening creditor, who is thereby benefited, has not requested or induced the junior creditor to do so. If the latter had discharged the prior lien by payment, in order to save himself, a different rule would apply.</p> <p>3. Where a mortgagee transfers the notes secured, and makes a written assignment of the mortgage, which assignment is not recorded until after the mortgagor makes a conveyance of the mortgaged premises to the mortgagee, and the latter executes another mortgage of the same, which deed and subsequent mortgage are first recorded, the last mortgage will take precedence of the first; but another mortgage or deed of trust executed by 0him after the recording of the assignment of the first mortgage, will be subject thereto.</p> <p>4. Attacking judgment cobdateraddy—for mere error. A judgment foreclosing a mortgage by scire facias, and the sale of the mortgaged premises thereunder, can not be defeated by errors and irregularities in the proceeding not affecting