Leffler v. Armstrong

4 Iowa 482
CourtSupreme Court of Iowa
DecidedJuly 1, 1857
StatusPublished
Cited by16 cases

This text of 4 Iowa 482 (Leffler v. Armstrong) is published on Counsel Stack Legal Research, covering Supreme Court of Iowa primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Leffler v. Armstrong, 4 Iowa 482 (iowa 1857).

Opinion

Wright, C. J.

To entitle themselves to the relief asked, and to reverse the decree below, complainants rely principally upon two grounds. The first is, that it was the inten-. tion of the grantors, and the parties to said deed, that the trustees should sign and acknowledge the same; that it never was, therefore, properly executed' and delivered, but was received by the trustees, or by Postlewait & Creegan as an escrow ; and that never having accepted the trust, they had no power to make the sale. In the second place, it is insisted that notice of said sale was not given as required by the terms of the deed.

In the statement of the case, and thus far in this opinion, the instrument executed by complainants is spoken of as a deed of trust. Counsel for complainants so treat it, adding, however, the further argument that if a mortgage, and not a deed of trust, then the persons named therein as trustees could not foreclose by sale without the aid of a court; that such sale was extra-judicial, could confer no title, and that at most the purchaser holds the property in trust for them. We deem it entirely unnecessary in deter[485]*485mining the rights- of the-parties: in this case, to inquire-'whether this instrument as a deed of trust, was ever properly executed and- delivered, or whether, if such deed, it w;as necessary to the perfection of respondent’s title, that the acceptance of the trust should have been indorsed thereon by ■the- supposed trustees. We have no hesitation in saying, that as a mortgage containing a power to sell in case of de: fault of payment, it conferred ample power, upon Postlewait & Creegan to make the- sale — and that it was not necessary that they should join in the acknowledgment of said'instrument, or its execution. That parties may legally insert a provision, conferring a power of sale upon the mortgagee, of a third person, is no longer a matter of doubt. Such mortgagee or third person, upon breach of -the condition of the mortgage, is bound to fairly and judiciously dispose of-the property, pay the debt from the proceeds, and account with the mortgagor for the balance. And-we know of no rule that requires the mortgagee or third person,- where the power of sale is inserted in the mortgage deed, to join in the execution, to sign or acknowledge the same, or to signify his willingness-to make the sale, or undertake the execution of the power, by any .formal writing indorsed on the deed. 1 Hilliard on Mortgages, ch. 7, p. 90; 4 Kent, 146. In this case the power was given to third persons, nothing is shown to impeach the .fairness of the sale, and we are quite, clear that the deed -itself, fully empowered them to foreclose by sale, without the aid of a court.

The second and only remaining question is, whether the notice given was such as was required by terms of the deed. And we are clearly of the- opinion that it was. It is not denied but that more than thirty days intervened between the first publication of the notice and the day of sale. Nor is it claimed that the notice was- not published regularly in each issue of the paper for five successive times. B.ut it is said that the last issue or publication was on- the 28th day after the first one, and that thirty days’ notice was not, therefore, given as required by- the deed-, or in other words, that while the publication may have been continuous from one [486]*486publication day to another, or from the first to the last day of its insertion, yet after the last publication it was out of the paper, or ceased to be in the paper or continuous, and finally that thirty days should have intervened between the first and last publication. If the first or any subsequent publication of the notice prior to the last, continued from one publication of the notice prior to- the last, continued from one publication day to another, or operated as a continuous notice from week to week, then we must acknowledge that we cannot see why the last publication would not have the same effect. The notice as much continued to be in the last issue after the day of- its publication, as it continued in the first one. The public was as much advised thereby, not only on the day of its publication, but for subsequent days, that there would be a sale, as by any of the previous issues. If the issue of the paper could give no notice of the sale beyond the day of its publication, then there was but five days’ notice. But it is conceded in the argument, that each publication was notice for the term' between one regular issue and another — and as a consequence, that there was as perfect a notice on the 9th or 24th of April, as on the 8th or 22d, or on any other of the publication days. If so, then why was not the publication on the 6th of May, notice for the term intervening between that and the 13th, the next day for publication ? And if, being published on the 13th, there would have been thirty-six days’ notice, why not thirty days as on the 8th of May ? To our minds,, it is conclusively clear, that if the notice continued to have life after the day of its first publication, until the second, and from the second to third, and a like manner to the last, so would the last publication continue in being until the day of sale.

But there is still another view of it presented by counsel for appellants, which has more weight, and that is that thirty days should have intervened between the first and last publication of the notice, and that it is not sufficient that thirty days intervened between the first publication and the day of sale. We say this has more weight than the position last examined, and yét we must say that but for [487]*487the dictum forming it, found in Armstrong et al. v. Scott et al., 3 G. Greene, 433, we should have had but little difficulty in holding the position untenable. In that case the terms of the trust deed with reference to the publication of notice were substantially, if not identically, the same as in the one before us. The trustees being about 'to sell the property," the grantors filed their bill to enjoin the sale. It seems that but one publication was made, which was more than thirty days before the proposed day of sale, and the question was, 'whether this was sufficient. It was held that such notice should not only, be published thirty days before the sale, but it should have been continued ; that it was indispensable that-the publication should be continued, as that the required time should elapse •, and that there being but one publication, and no more, there was no more power in the trustees to sell, than if there had been no publication. And having thus decided fully, and as we think most correctly, the very point, and the only point, that could or did legitimately arise on this part of the case, the opinion concludes with this dictum, “ thirty days should have elapsed between the first and last publication, as upon giving this notice depended his (the trustee’s) power to sell.’’ In holding as we feel constrained to do, adverse to this position, we do not regard that we overrule the decision made in that ■case — for it was entirely unnecessary for the court to announce any opinion, upon any other question than the simple one whether one publication was sufficient. Beyond this, all that was said was obiter dicta, and if such general dicta can in any case be regarded as -establishing the law, then truly has it been said “that nothing is yet settled, or can long be settled.” Frants v. Brown, 17 S. & R. 292.

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4 Iowa 482, Counsel Stack Legal Research, https://law.counselstack.com/opinion/leffler-v-armstrong-iowa-1857.