Wylde v. Schoening

Citations

• 96 Wash. 86
• 164 P. 752

Syllabus

<p>Trover and Conversion — Promissory Note — Assignment by Trustee — Evidence—Sueeiciency. Where the last of six mortgage notes was held by the mortgagee as trustee for plaintiffs, to whom it had been assigned, the mortgagee was guilty of an actual, not merely a technical, conversion of the note, where he assigned and pledged all of the notes as collateral security for a personal loan from a bank, which took without notice and held the last note with the others as security; and the evidence is'sufficient to establish the conversion, where the mortgagee admitted that the note had been assigned without the consent of the cestui que trust, his agent clearly intended to include it in the pledge, and he executed a written assignment which expressly described all the notes.</p> <p>Same — Conversion op Mortgage Note — Measure op Damages. Upon the conversion of a mortgage note which was subject and inferior to five other notes secured by the same mortgage, and upon which no deficiency judgment could be obtained, the measure of damages is not the face of the note and interest, but the value of the security as of the date of the conversion, less the amount of the other five notes and accrued interest.</p>