Carveth v. Winegar
Decision Date | 21 April 1903 |
Citation | 94 N.W. 381,133 Mich. 34 |
Court | Michigan Supreme Court |
Parties | CARVETH et ux. v. WINEGAR et al. |
Appeal from Circuit Court, Ionia County, in Chancery; Frank D. M Davis, Judge.
Bill by Thomas Carveth and wife against Clarendon C. Winegar and another. Decree for complainants, and defendants appeal. Affirmed.
The purpose of this bill is to have a deed absolute upon its face declared a mortgage, and that the complainants may be allowed to redeem therefrom. The deed was executed January 18, 1897 by complainants, who are husband and wife, to the defendant Clarendon C. Winegar. It was executed at the house of defendant Clarendon. Mr. Winegar and Mr. Carveth then went to the house of Mr. Winegar's attorney, and a contract was drawn up, the material part of which is as follows:
The land was a farm of 160 acres. In 1893 it was mortgaged to one Anderson for $5,000. Mr. Carveth desired to take up this mortgage, which drew 7 per cent., and replace it by another at 6 per cent. Mr. Winegar wrote to his sister and brother-in-law in New York, March 22, 1893, that he had an opportunity to loan $4,000 on The loan was secured, the mortgage given, and Mr. Winegar took a second mortgage for $500 to help make up the amount necessary to pay the Anderson mortgage. This second mortgage was afterwards paid. Mr. Carveth paid the interest for 1894 and 1895. He was an old man, the crops for 1896 and 1897 were poor, and he was unable to meet the interest. Mr. Winegar paid the interest due in 1896, and took a chattel mortgage on a large amount of personal property to secure him. Efforts were made by both parties to sell the farm. It is claimed by the defendants that the price fixed by Mr. Carveth was too high, and that for that reason a sale was not made. Complainants charge that Mr. Winegar did not act in good faith, or make proper efforts to secure a sale. On the 8th day of February, 1898, in consideration of the sum of $100 to him paid by Winegar Carveth released his interest in the contract, and signed a relinquishment thereof which is indorsed on said contract. Defendant George is the son of Clarendon, and purchased one-half of this farm from his father for $3,000, and is now in possession thereof, claiming...
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