Preble v. Conger

Citations

• 66 Ill. 370

Syllabus

<p>1. Estoppel in pais—to assert mortgage as against a subsequent purchaser. To hold that mortgagees are estopped from asserting their mortgage as against a subsequent purchaser of the mortgaged property, where the proof shows a large indebtedness, the proof of the facts out of which the estoppel is claimed to arise, ought to be of a very clear and satisfactory character.</p> <p>3. And where the facts claimed to create the estoppel are denied, and it appears that the purchaser, before purchasing, took a written agreement from the mortgagees, in the absence of proof of a mistake therein, he will not be allowed to prove verbal statements and assurances made to him by one of the mortgagees as to the nature and extent of their claim, out of which to create an estoppel.</p> <p>3. Where the statements o.f the mortgagees as to the amount due them was a mere matter of opinion, and they used no active efforts to induce the purchase, but the purchaser relied upon the assurances of the mortgagor from whom he purchased, and might, by the use of reasonable diligence pn his part, have ascertained the amount of the incumbrance: Beld, that the mortgagees were not estopped from claiming the amount due them upon their mortgage as against such purchaser.</p> <p>4. But where the mortgagees entered into a written agreement with one purchasing the mortgaged property of the mortgagor, that, when they should receive all moneys due them from the mortgagor and the firms of which he was a member, they would assign and transfer to such purchaser their mortgage and all their claims upon the property, this was held to estop them from claiming, under their mortgage, any more than such indebtedness due them from the mortgagor and the firms of which he was a member.</p> <p>5. Mort&a&e—to secure subsequent advances—limited, to advances made to notice of sale. It seems, in general, that, where a chattel mortgage is given to secure future advances, all advances made subsequent to a sale by the mortgag