60 Minn. 206 | Minn. | 1895
The plaintiff executed to defendants his promissory note, and as collateral security for its payment assigned and transferred to defendants a mortgage, and the note secured thereby, executed by one Clay. At the same time, and as a part of the same transaction, plaintiff executed to defendants a power of sale, in which, after reciting that he had deposited the Clay mortgage as collateral security for the payment of his own note, he authorized the holder of said note, on nonpayment thereof at maturity, to sell the security at public or private sale, and apply the avails toward the payment of his note. Plaintiff having defaulted in the payment of his note, the defendants sold the collateral mortgage at public auction, one of themselves bidding it in at the sale, as he was authorized to do by statute. Laws 1885, c. 171. There is no claim that the sale was not conducted fairly, and in accordance with the statute;
Order affirmed.