Pennypacker v. Latimer

Citations

• 10 Idaho 618
• 81 P. 55
• 1905 Ida. LEXIS 23

Syllabus

<p>ASSIGNMENT OP MORTGAGE-FORECLOSURE OP MORTGAGE — PAYMENT—Agent — Estoppel.</p> <p>1. Where B. executed a mortgage to the B. & E. Investment Company, and the company thereafter assigned the same to P., ■with a contract binding the company to pay interest installments and principal promptly when due, and agreeing not to foreclose the mortgage for two years after the same became due, and giving the company the right to repurchase said note and mortgage at any time, and collected nine interest installments covering a period of about five years through said company, and delivered the coupons therefor to the mortgagor through said corporation, and neglected to file its assignment of said mortgage for record in the proper county, and failed and neglected to notify the mortgagors of such assignment, held, that under those facts the said B. & E. Investment Company was the agent of P., and that the payment of said principal debt and interest to the B. & E. Investment Company was a payment to P.</p> <p>(Syllabus by the court.)</p>