56 Ind. App. 94 | Ind. Ct. App. | 1914
Appellee on June 29, 1911, recovered judgment against appellant and others for $853.50. Execution was issued on this judgment on July 14, 1911, and on October 3, 1911, levy was made on twenty shares of bank stock of the par value of $2,000 owned by appellant, which had been assigned by him to the Marion Trust Company as collateral security for a note of $1,750 dated July 15, 1911. On October 6,1911, appellant filed with the sheriff of Marion County a schedule of his property, in which he made affidavit that the twenty shares of bank stock were worth $2,000; that he had other property worth $40; that this was all his property; that he had assigned the bank stock to the Marion Trust Company on July 14, 1911, for $1,750, which money was used to pay his debts, household expenses, rent, clothing for his family and traveling expenses. He asked that his equity in the bank stock be set aside as exempt from execution. After this schedule was filed the sheriff refused to advertise and sell said bank stock. On October 7, 1911, appellee began supplementary proceedings to enforce the sale of the stock, and from an order directing the
It is first urged that there was error in overruling appellant’s motion for a stay of proceedings. This motion stated that another cause was pending in the Marion Superior Court between the same parties, involving the same subject-matter, the decision of which would determine the right set up in this cause, the facts being that in this other cause appellant had sued appellee upon a complaint alleging that the judgment against appellant for $853.50, upon which the execution above mentioned had issued, had been rendered on á note for $750, payable to appellant, which he had loaned to one Quinn to use as collateral to obtain a loan of $250 on a note executed by Quinn; that appellant had offered to pay and is ready and willing to pay to appellee the amount of said note of $250 with interest and costs of the suit upon the collateral note, and the prayer was that appellee be required to surrender to appellant the principal note, collateral note, and for judgment.
Judgment affirmed.
Note. — Reported in 104 N. E. 979. As to temporary stays of execution, see 127 Am. St. 710. See, also, under (1) 17 Cyc. 1443; (2) 23 Cyc. 1065; (3) 2 Cyc. 693; (4) 17 Cyc. 1440, 1442; (5) 3 Cyc. 166, 313.