Parkey v. Veatch

64 S.W. 114, 164 Mo. 375, 1901 Mo. LEXIS 221
CourtSupreme Court of Missouri
DecidedJune 29, 1901
StatusPublished
Cited by2 cases

This text of 64 S.W. 114 (Parkey v. Veatch) is published on Counsel Stack Legal Research, covering Supreme Court of Missouri primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Parkey v. Veatch, 64 S.W. 114, 164 Mo. 375, 1901 Mo. LEXIS 221 (Mo. 1901).

Opinion

BRACE, P. J.

— The plaintiff, James Parkey, and his wife, Sarah S. Parkey, were the owners of 320 acres of land in Sullivan county; that is to say, Sarah S. Parkey was the owner in fee of the southwest quarter of the northwest quarter of section 15, containing 40 acres. James Parkey and Sarah S. Parkey were the owners in fee, as tenants in common, [380]*380of the northeast quarter and the northeast quarter of the northwest quarter of section 16, containing 200 acres, and James Parkey was the owner in fee of the northwest quarter of the northwest quarter and the southeast quarter of the northwest quarter of section 16, containing 80 acres, all in township 62, range 19.

On the fourth of June, 189i, by their deed of that date duly executed, acknowledged and recorded,' they conveyed all of said real estate to Frank Madden in trust to secure the payment of their fifteen promissory notes of that date to the Omaha Loan & Trust Company, one principal note for $3,000, payable seven years after date, and fourteen coupon interest notes each for $88.50, payable semiannually after that date.

Afterwards, on the same day, the said James and Sarah S. Parkey, by a second deed of trust of that date, duly executed, acknowledged and recorded, conveyed all of said real estate to said Madden in trust to secure the payment of their three other promissory notes of that date, payable to the said Omaha Loan & Trust Company, each for the sum of $140, in one, two and three years from date with ten per cent interest.

Afterwards, on the fifteenth day of October, 1891, the said J ames and Sarah S. Parkey by a third deed of trust of that date duly executed, acknowledged and recorded, conveyed all of said real estate to John M. Winters in trust, to secure the payment of their promissory note of that date for $334.85 to N. J. Winters, payable ninety days after date with eight per cent interest.

Afterwards, on the nineteenth of November, 1891, the defendant Veatch obtained judgment in the circuit court of Sullivan county against the said Parkey for the sum of $300.70, on which execution was issued, and all the interest of the said James Parkey in the said 200-acre tract was sold to the said Veatch, who received a sheriff’s deed therefor, dated [381]*381May 27, 1892. Afterwards, on the nineteenth of November, 1894, the said Veateh obtained a judgment in said circuit court against the said James and Sarah ,S. Parkey for the possession of said 200-acre tract, by virtue of which he took, and ever since has remained in possession thereof.

Afterwards, on the eighth of January, 1895, the said defendant purchased the said Winters note for $334.85. The same was duly assigned to him, and remaining due and unpaid, he caused the whole of the 320 acres of land, conveyed by the said third deed of trust, to secure the same, to be advertised .for sale on the twelfth of March, 1895, in pursuance of the power therein contained. On the fourth of March, 1895, the plaintiff, by two deeds of that date, acquired the interest of his wife in the southwest quarter of the northwest quarter of section 15, and thus became the owner of 120 acres of the 320 acres, subject to the incumbrances, all of which was of about the same value per acre, and on the eighth of March, 1895, he tendered to the defendant three-eighths of the total amount due - on said note and deed of trust for principal, interest and costs, which tender the defendant refused to accept, and the plaintiff brought this suit in equity, in the circuit court of Sullivan county on the eleventh of March, 1895, his petition herein being as follows:

“Plaintiff states that on the 15th day of October, 1891, he and his wife Sarah S. Parkey, made, executed and delivered to N. J. Winters, their promissory note, secured by their certain deed of trust on the following described 320 acres of land, viz: the southwest fourth of -the northwest quarter of section 15, and the northeast quarter and the east half of the northwest quarter, and the northwest fourth of tire northwest quarter of section 16; all in township 62, of range 19.
“That afterwards, to-wit, on the nineteenth day of November, 1891, the defendant recovered judgment against the plain[382]*382tiff in the Sullivan Circuit Court for the sum of $276.74, debt and cost of suit; that said defendant afterward caused an execution to issue out of said court on said judgment directed to the sheriff of said county and that said sheriff afterwards by virtue of said execution, in the manner prescribed by law, levied upon, advertised and sold 200 acres of said land described as follows, to-wit: the northeast quarter, and the northeast fourth of the northwest quarter of section 16, in township 62 of range 19, and at said sale said Veateh, the defendant, became the purchaser of said 200 acres and received a sheriff’s deed therefor.
“That afterwards, to-wit, at the May term, 1894, of this court, the defendant commenced a suit in this court in ejectment for the recovery of said 200 acres of land as well as the cancelling of certain deeds, and at the November term, 1894, of said court, the defendant recovered judgment as prayed, and ever since said time has been in the possession and is now the owner and in possession of said 200 acres of land.
“That afterwards, to-wit, on the ■ — ■ day of February, 1896, the defendant became the purchaser and assignee of said note and deed of trust, and that he has advertised or caused to be advertised for sale the said 320 acres of land as described in said deed of trust, and that on the twelfth day of March, 1895, the defendant intends to and will sell the said 120 acres of said land, of - which the plaintiff is the owner, under the alleged provisions of said deed of trust. Plaintiff further states that on the fifth day of March, 1895, he tendered to said defendant the sum of $130.40, being the amount of the debt then due and secured by the said 120 acres aforesaid, and being the 120-320ths of the entire debt then due and- secured by the said deed of trust, together with $6, all the costs accrued by reason of advertising said land, but that the defendant refused to accept the sum so tendered.
[383]*383“Plaintiff states that all of said'land is of practically the same value acre for acre, and that the 120 acres of land included in said deed of trust is worth 120-320ths of the whole 320 acres and no more. That at the time of the tender of the said money the amount tendered was 120-320ths of the whole amount due on said note and secured by the said deed of trust on the whole 320 acres.
“Plaintiff therefore tenders and brings into court the amount by him heretofore tendered to defendant, and prays the court that the said deed of trust be cancelled, and that said note be cancelled, and both satisfied in full, and if the defendant proceeds and sells the said 120 acres that the plaintiff be permitted to redeem the said land upon the payment to the defendant of-the said sum of $130.40, or, if in the opinion of the court the amount be not sufficient, then upon the payment of such sum as the court may deem just and proper, which said amount the defendant is ready and willing to pay into court, and for all other and proper relief.”

Afterwards, on the twelfth day of March, 1895, the 320 acres was sold by the trustee in pursuance of the advertisement and the defendant became the purchaser thereof for the sum of $50 and received the trustee’s deed therefor.

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Bluebook (online)
64 S.W. 114, 164 Mo. 375, 1901 Mo. LEXIS 221, Counsel Stack Legal Research, https://law.counselstack.com/opinion/parkey-v-veatch-mo-1901.