Mulvane v. Sedgley

Citations

• 63 Kan. 105
• 64 P. 1038
• 55 L.R.A. 552
• 1901 Kan. LEXIS 105

Syllabus

<p>SYLLABUS BY THE COURT.</p> <p>1. Limitation oe Action—Note and Mortgage. When the relation of principal and surety existing between mortgagors and a purchaser of mortgaged property, who assumed and agreed to pay the mortgage, is recognized and accepted by the mortgagee, and the cause of action against the purchaser or principal becomes barred by the statute of limitations, an action against the mortgagors or sureties on the notes and to foreclose the mortgage is also barred.</p> <p>2. -Principal and Surety. The facts examined, and held sufficient to warrant the court’s declaring, as a matter of law, the mortgagee to have accepted the relation of principal and surety existing between the purchaser and mortgagors.</p>