Miller v. Kennedy

Citations

• 12 S.D. 478
• 81 N.W. 906
• 1900 S.D. LEXIS 66

Syllabus

<p>1. Since a grantee's assumption of a mortgage on land conveyed renders him the principal debtor, and the mortgagor his surely, where the mortgagee has actual knowledge of such assumption, his agreement witli the vendee extending’ the time of payment, against the objection of the mortgagor, dischai’ges him from any liability for a deficiency judgment.</p> <p>2. Pnrol evidence is admissible to show that t,lie vendee, as part consideration for the premist s conveyed, orally agreed to assume and pay a mortgage thereon.</p>