92 Iowa 557 | Iowa | 1894
The agreement to forbear foreclosing was, as appears from the evidence, clearly for the benefit of Lodge & Henry, who held unsecured claims against Eice, the mortgagor, and they wanted him, to have possession of the premises, so that he might from its proceeds pay such indebtedness. Dillin and Witt agreed to this, in case their security should be preserved unimpaired. Hence the contract was' entered into. Lodge & Henry violated the contract, but that did not operate to relieve them from liability to Dillin and Witt, who in good faith observed it. There was a sufficient consideration
V. We do not deem it necessary to determine as to whether the proceedings in the federal court constituted constructive notice to Dillin and Witt, at the time Witt purchased the five thousand dollar mortgage, that these coupons were held by Lodge & Henry,- and were unpaid. Let it be conceded for argument’s sake, that they did have notice. Dillin and Witt knew that, by virtue of the agreement heretofore stated, Lodge & Henry were bound to pay these coupons. Dillin and Witt, having on their part carried out the agreement, might confidently rely upon it, and their legal rights thereunder, regardless of any claim that Lodge & Henry might make as to these coupons. Dillin and Witt having performed their part of the contract, and forborne to foreclose their mortgages for two years, the liability of Lodge & Henry to pay these coupons was absolute. The result we have reached renders it unnecessary to consider many other questions discussed by counsel.
YI. Appellant filed a motion to tax the costs of printing appellee’s additional abstract and their argument to them. Appellant’s abstract was served upon