Tilley v. Bonney

Citations

• 123 Cal. 118
• 55 P. 798
• 1898 Cal. LEXIS 994

Syllabus

<p>Mining Corporation—Purchase of Vendor’s Lien by Director—Enforcement of Judgment for Sum Paid—Validity of Sale for. Excess.—A judgment rendered in the name of the plaintiff in ant action to foreclose a vendor’s lien against the property of a mining corporation, obtained for the full amount of the claim,, after a purchase thereof by a director of the corporation at a. discount, may be enforced by sale under execution to satisfy the judgment for the amount paid by the director, whether the transfer of the vendor’s lien was valid or not; and a purchase of the property for the full amount of the judgment would not render a sale under the execution invalid, but the director would merely be responsible for the excess.</p> <p>Id.—Eights of Subsequent Lienholders — Bedemption—Insufficient Tender.— A subsequent lienholder, whose lien accrued after ti e docketing of such judgment and the sale thereunder, must make a statutory redemption therefrom during the period allowed therefor, by tendering with the proper redemption papers the amount which was in fact a valid lien upon the property; and upon his failure to do so, the title will pass to the purchaser, notwithstanding a mere tender of the amount due, without a statutory redemption.</p> <p>Id.— Execution Sales—Several Properties—Equality of Liens — Omission to Find Value. —Where a judgment lienholdor who held liens of equal rank with that of a judgment lien in favor of another person, sold other pieces of property under execution besides the property sold under the other judgment lien, the omission of the court in an action to determine the question of priorities between them, to find as to the value of the respective pieces of property so sold, is material, and renders it impracticable to determine the respective rights of the parties in the property sold.</p>