126 Iowa 704 | Iowa | 1905
Upon the case being submitted, the court found that the mortgage given to the defendant Manning’s Bank was intended simply to await the payment to be made under the contract by plaintiff, Bea; that such payment was to be made to the bank, and by it applied on the indebtedness of Ferguson, whereupon the mortgage was to be canceled. The decree then provided that in case the plaintiff, Bea, should pay to the defendant bank, for the use of the defendant Ferguson, the sum of $9,000, with interest from March 1, 1908, at 6 per cent, per annum, within forty days from the date of entry of the decree, or, invcase an appeal should be taken, then within forty days from the final disposition of such appeal, the defendant bank should thereupon cancel its mortgage and deliver to plaintiff the deed to the lands in its possession; further, that, if said sum of money should be so paid, the defendant Ferguson should be regarded as holding possession of the lands as a tenant of plaintiff, and should account to him for the rents and profits'. The value of the rents for the year 1903 was found to be $959, and judgment for that sum was ordered in favor of plaintiff against defendant Ferguson, conditioned only upon payment being first made by the former to the bank, provided for as stated above. The costs of the case were ordered taxed to defendant. ’
The contention for error in the decree as thus entered,
In view of tbe attitude assumed by tbe respective parties, it is manifest to our minds that equity was accomplished by tbe decree as entered, and that we bave no need to enter upon inquiry into any collateral question respecting the character of tbe title to tbe lands, or to go any farther by way of a determination of what were the technical rights of tbe parties, growing out of tbe failure to perform on or before March 1, 1903.
Accordingly tbe decree is affirmed.