110 Mich. 282 | Mich. | 1896
This bill was filed to compel the discharge of a mortgage made by the complainants to the defendant on July 3, 1891, for the sum of $200, with interest payable semi-annually, the complainants asserting that they had paid the money into the hands of one Julius Stoll, “who was the agent, as claimed by them, of the defendant, and authorized by him to receive the money on the mortgage. The defendant filed a cross-bill, asking the foreclosure of the mortgage.
Ii appears that, for some years, Julius Stoll had received from the defendant various sums of money for
. It appears that defendant, in other transactions, had intrusted the loaning of money on mortgages to Stoll, and the collection of interest and principal by him. The manner in which the business was done was the placing of moneys in Stoll’s hands in small sums from time to time; Stoll making the loans when opportunity offered, and thereafter collecting the interest and principal, obtaining discharges from the defendant from time to time as the mortgages were paid, crediting the moneys to the defendant upon his books of account, and reinvesting them for the defendant. The defendant, in his testimony, says substantially that generally he did not
The court below, upon the facts shown, entered a decree in favor of the complainants, compelling the discharge of the mortgage, finding, upon the testimony, that Stoll was the general agent of the defendant to receive the money in discharge of the mortgage. We think in that the court was correct. The case falls within the rule of Wilson v. La Tour, 108 Mich. 547.
The decree of the court below will be affirmed.