147 P. 533 | Or. | 1915
Lead Opinion
Opinion by
The evidence shows that on August 29, 1910, J. N. Windsor, the father of J. C. Windsor, the plaintiff herein was the owner of 1,473 shares of the capital stock, of the Campbell Automatic Safety Gas Burner Company, a corporation, and on that day he entered into a written contract with the defendants herein, George C. Mourer, L. C. Hammer, H. G. Luker, Edward Holloway, John E. Murphy and H. G. Sonneman and others, whereby he stipulated to assign and transfer such stock to the persons named, in consideration of $14,730, evidenced by their promissory note of $5,000 and $8,980, maturing in six and nine months, respectively, the remainder being made up of like promissory notes of $125 each, the first maturing October 1, 1910, and another each succeeding month. All were payable to the order of J. N. Windsor, with interest from date at the rate of 6 per cent per annum, and it was provided in each note that, in case suit or action should be instituted thereon, the makers would pay such additional sum as the court might adjudge reasonable as attorney’s fees. The payee named in the notes stipulated in
Mrs. Campbell commenced an action in the Circuit Court of the State of Oregon for Multnomah County against the makers of the promissory notes to recover the amounts of four thereof, each for $125, and the $5,000 note, and on November 20, 1911, she secured a judgment for $5,351.75, the remainder due, with interest at the rate of 6 per cent per annum from August 29, 1910, until paid, $350 as attorney’s fees, and the costs and disbursements. All the makers of' these notes, except Holloway, were regularly adjudged bankrupts November 18, 1911, by the District Court of the United States for the District of Oregon, and thereafter A. A. Cunningham was appointed and duly qualified as trustee of their estates: Hammer v. Campbell Automatic Safety Gas Burner Co., 74 Or. 126 (144 Pac. 396).
■ Mrs. Campbell also commenced an action in the same court against the makers of the notes to recover the amount due on the larger negotiable instrument, and, having secured a writ of attachment, she caused it to be levied upon the property of the defendant Holloway, and, in order to secure a discharge of the seiz
From the first judgment referred to the makers of the notes jointly appealed, and from the second judgment Holloway alone appealed; the defendants herein, Henry Hagelstein, C. E. Belding and E. W. Oliver, being sureties on the undertakings for appeal. Though these appeals have been perfected, they remain undetermined by this court. Mrs. Campbell, on August 16,1912, by writing transferred to J. C. Windsor, the plaintiff herein, all her right, title, and interest in and to both of the judgments, but the assignment was never recorded. In consideration of $6,750 paid by Holloway, there was noted on the margins of the proper records of Multnomah County, Oregon, respective entries as follows:
“Full satisfaction of the within judgment is hereby acknowledged this 28th day of March, 1913. [Signed] A. B. Foley, Attorney in Fact for C. A. Campbell, Plaintiff. Attest: John B. Coffey, Clerk of Circuit Court, by C. J. Strode, Deputy.”
The chief inquiry to be considered is whether or not the defendant Edward. Holloway had notice of Mrs. Campbell’s assignment of the judgment to the plaintiff when he secured and had recorded the satisfactions
The decree should therefore be affirmed, and it is so ordered. Affirmed. Behearing Denied.
Rehearing
Denied May 25, 1915.
On Petition for Rehearing.
(147 Pac. 1190.)
Opinion by
In the former opinion it is said: “Mrs. Campbell on August 16,1912, by writing, transferred to J. C. Windsor, the plaintiff herein, all her right, title, and interest in and to both of the judgments, but the assignment was never recorded.” Prom the concluding part of that sentence the following additional words were inadvertently omitted, to wit: “Until after the record of these judgments was discharged.” In a petition for a
"We think the conclusion reached in this case is warranted by a consideration of the evidence, and hence the petition for a rehearing is denied.
Affirmed. Rehearing Denied.