177 Ill. 525 | Ill. | 1898
Lead Opinion
delivered the opinion of the court:
Our investigation of this record, aided by the arguments, oral and printed, of counsel for the respective parties, has led us to the conclusion the judgment of the Appellate Court is correct. The facts are fully stated .in the statement of facts prepared by that court, and its opinion is a satisfactory statement of the application of the law to such facts.
The opinion of the Appellate Court is adopted as the opinion of this court, and its judgment is affirmed.
Judgment affirmed.
Dissenting Opinion
dissenting: We do not concur in giving to the claim of O’Hara preference over the mortgage debt and displacing the priority of the mortgage lien created by contract. There was no diversion of income, and no ground for giving such preference except that the mortgaged property was improved. No authority has been cited which supports the claim for such a preference, and we know of no principle of equity under which it can be allowed. The same argument for a preference can be made in every case where money, labor or materials enhance the value of mortgaged property.