Persons v. Van Tassal

Citations

• 15 S.D. 362
• 89 N.W. 861
• 1902 S.D. LEXIS 15

Syllabus

<p>Plaintiff intrusted funds to an agent, to be invested in mortgages. The agent invested the money in a mortgage in his own name, and then assigned it to plaintiff, but the assignment was not recorded. After the execution of the mortgage the agent acquired the legal title to the land, and it was thereafter sold under a judgment against him, and defendant’s vendor purchased it; neither defendant nor her vendor having any notice of plaintiff’s interest in the property. Meld, in a suit, to foreclose the mortgage, that pursuant to the doctrine that, where one of two innocent persons must suffer by the act of a third, he by whose negligence the loss occurred must suffer, defendant’s title was not subject to plaintiff’s claim.</p>