136 Mich. 117 | Mich. | 1904
This is trover, brought against the assignee of an instrument claimed to be a mortgage. The plaintiff recovered the value of the excess of the property over and above the amount secured, and defendant brings error.
Plaintiff’s intestate, James S. Haynes, being indebted to divers parties, in June, 1900, gave a bill of sale of his horses, wagons, and livery stock to two of such creditors, Howard Price & Co. and George F. Bow. The bill of sale was in the ordinary form, but contained in addition the following statement and defeasance:
“This bill of sale is given to secure the said second parties for the sum of $253, owed by first party to Howard Price & Co. And the sum of $289.46, indebtedness of said first party assumed by said second parties, being $258.81 owed on two notes to Loeser Brothers, also $100 owed to Kinney, $30.65 account owed to A. B. Cornell,*119 which last indebtedness is to be assumed and paid by said second parties, each to pay one-half. Said George F. Bow to take immediate possession of said property, and retain possession of same until said indebtedness shall all be paid: Provided, that when said indebtedness shall be paid by the sale of all or a portion of said property, or out of the net proceeds of said livery business, then all remaining property is to be returned to said James S. Haynes, and title thereto revert to him, said Haynes.”
Bow took possession, paid about $100 of the debts which were assumed, and after a few days assigned his title and interest in the contract to John Moran. On the 26th of October, Moran and Howard Price & Co., by an assignment in writing, transferred their right, title, and interest in and to the property covered by the mortgage to Miller Hobbs, the defendant. The defendant took possession, and from the use of and sale of the property covered by the mortgage received a sum in excess of the amount secured and expenses incurred, amounting to $222.05, for which sum a verdict was directed. This last statement is open to a qualification; i. e., if the defendant’s claim that there was only realized $700 on the final sale be allowable, then the figures fixed by the court were $150 too high.
Several grounds of error are urged, and we will consider them in the order adopted by counsel.
“ Tyler was going into the livery business, and defendant was running behind, and didn’t want to run it at all. I wanted to get rid of it. Finally he came in, and witness told him that he would take $850. That Tyler said he had some notes here; if I would take them, he would buy it. Witness said to Tyler, ‘ If you would give me $850 for the livery stable, I will give you $150 for signing my bond.’ He said he thought the livery barn was a little high. I said that, ‘If you buy the barn, and sign my bond, I will give you $150 for doing that;’ and that is how I happened to get $850 for the barn. I figured that I was getting $150, as I generally have to pay a man $150 for signing a bond here.”
On .cross-examination defendant further testified that some years he had to pay $150 for the liquor bond and some years not; that Tyler gave him his note for $150; that
We think it is idle to say that he received but §700 for the property, and the court correctly stated the amount.
The motion for a new trial was properly overruled.
The other questions discussed have been considered, but are shown by the conclusions reached on the main questions discussed to be without merit.
The judgment is affirmed.
John. Haynes testified that he had a' “working interest” in the business; that, by an agreement between him and his father, the deceased, he was to help about the business, and, after all the debts should be paid, was to have a half interest therein.