61 Neb. 370 | Neb. | 1901
One C. C. Burr, as owner and bolder- of a second mortgage on tbe real estate of tbe appellee and tbe note secured thereby, commenced an action in equity in tbe district court for the purpose of foreclosing tbe lien arising by virtue of tbe mortgage. After tbe proceedings were instituted, assuming to act as the agent of the appellant Holt, Burr caused a cross-petition to l:n filed for and on behalf of Holt, who was tbe owner of tbe mortgage indebtedness secured by tbe prior lien, upon which, after pleadings were formed, a decree was rendered in favor of Holt on bis cross-petition, and in favor of tbe
It,is argued that the decree in favor of Holt having been rendered for the sum mentioned, this is conclusive as fixing the rights of the parties, and a decree should have been awarded for the difference between $3,800 held to be properly applicable to the Holt indebtedness, and the sum for which the original decree was rendered. The former opinion, to which -reference has been made, determines three questions, which were clearly presented, and which must be regarded in the subsequent proceedings as the law of the case; first, that Burr was authorized to act as the agent of Holt in the- collection of the debt of the principal; second, that Burr, as agent of Holt, had no authority to take a chattel mortgage in satisfaction of his principal’s indebtedness; and third, that the proceeds of the subsequent loan of $3,800 were received by Burr as the agent of Holt, and to that amount was a complete and legal payment and satisfaction of the indebtedness due from the mortgagor to the principal Holt. The first decree of $4,320.52 has been satisfied and canceled of record. Holt, as the principal, claimed nothing under that decree, and by the subsequent proceedings
The judgment must be
Affirmed.