Tinch v. Farmers Exchange Bank

1929 OK 29, 276 P. 735, 136 Okla. 162, 1929 Okla. LEXIS 159
CourtSupreme Court of Oklahoma
DecidedJanuary 22, 1929
Docket18797
StatusPublished
Cited by1 cases

This text of 1929 OK 29 (Tinch v. Farmers Exchange Bank) is published on Counsel Stack Legal Research, covering Supreme Court of Oklahoma primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Tinch v. Farmers Exchange Bank, 1929 OK 29, 276 P. 735, 136 Okla. 162, 1929 Okla. LEXIS 159 (Okla. 1929).

Opinion

DIFFENDAFFER, C.

This is an appeal from an order confirming a sale of real estate. und’er an order of sale in a foreclosure of a real estate mortgage. Upon return of the order of sale, plaintiffs in error, defendants below, and hereinafter' referred to as defendant's, filed an objection to the confirmation of sale had therepnder. Several grounds were set out in the objection; the ones principally relied upon at the hearing, and the only ones brought forward in th'e motion for new trial, were:

(1) That the property sold for less than it was worth on the market at the time, and that the consideration was insufficient to such an extent as to affect materially the rights of defendants, and that such inadequate price was brought about by reason of certain statements alleged to have been made by the attorney for plaintiffs concerning the title to the property so that prospective bidders were thereby deterred and prevented from bidding at the sale.

(2) That the attorney for plaintiffs at the sale made, certain statements intimating that the title was involved, and that such statements were irregular and prejudicial to a proper and valid sale, and caused the property to sell for much less than it was worth, all to the prejudice, of defendants’ rights.

These questions were properly raised in the motion for new trial, and, in addition, defendants alleged that the judgment of the eoiurt| was not sustained by sufficient evidence, and is contrary to law. These three questions are presented in the petition in error. Trial was had to the court on the objections, and the court overruled same and confirmed th'e sale. From this order and the order overruling the motion for new trial, defendants appeal.

It was shown at the trial that the property involved wasij sold in three tracts or parcels: One lot and a part of another in the town of Lindsay upon which a warehouse was erected, for $1,800; one lot upon which was an old wooden building, for $1,-000; and two vacant resident lots, for $250; a total sum oil $3,050'. All were sold to O. B. Mothersead, Bank Commissioner, who was the then judgment creditor.

F. A. Tinch, one of the defendants, testified, in substance, that he knew the value of the property, and that the warehouse prop1-erty was worth in his judgment about $3,-500; the lot, with old frame house, was worth about ‘$1,500, and the vacant lots about $300; that he was present at a former sale, which was had. land thereafter set aside, and bid $2,000 for the warehouse property, at which price it was sold to him, and he gave a check for that sum with a notation on the corner that it was ‡0 be paid on approval of abstract; that he procured an abstract, and had an attorney examine same, who advised him the title was not good, wher'eupon he declined to take the property.

Witness George E. Alkire testified in behalf of the objecting defendants that he was acquainted with the property in question, was present at a former sal'e, and bid on the warehouse, property; that be did not bid it *164 in for the reason that it sold for more money than he thought it was worth under the conditions. lie did not testify as to the value of any of the property, or what th'e warehouse property sold for at the time he bid on it. This was substantially all the testimony given going to the value of the property.

As to the alleged statements made relative to the title by the attorney for plaintiff at the time the sale was had, Mr. Tinch, the objecting defendant, testified:

“Q. Now, state to the court what was said there as near as you can by Mr. Murray, the attorney for th'e Banking- Commissioner, at that time, relative to this sale as to the condition of the title of this1 property? A. Well, when the property was put up for sale, he made the statement that it would be sold, you might say. without any title, as it had passed down from — as near as I can remember — from Mr. Watkins to the state, and there would be no abstract furnished, and the money would he on the barrel head, as near as I can remember it. Q. Is that what he said and all he said? A. Something similar to that — yes. Q. Do you know whether or not that statement kept persons present from bidding on the property? Mr. Osborn: Objected to as calling for a conclusion of the witness. Which objection is by the court sustained, to which action of the court the defendants except, and which exception -is by the court allowed. The Court: If he went there with the intention of bidding, and it kept him from bidding, I think it is admissible as to him.”

He also testified that D. T. Boone and Geo. Alkire were both present at the sale, and offered to testify that they were each able to pay for the property in case either of them had bought it at the sale. The court properly sustained an objection toi this offer. I-Ie did not testify that the statements made by the attorney caused him not to hid on the property at the sale here in question, or caused him to 'bid less than he would have had th'e statement not been made. He did bid notwithstanding the statement.

Geo'. Alkira testified that he heard the statement of' the attorney. 1-Iis testimony was:

Q. Can you rem'ember at this time about what he. said? A. Well, he made the statement that it was to be sold for cash in hand, without any abstract of title and no guaranty as to the. final outcome of it. That was the substance of his statement Q. Did h’e say there in that statement — I will ask you to refresh your memory if he did not say something about it was pending in part in the Supreme Court. A. I don't remember it. Q. You don’t remember? A. No. sir.”

Cicero I. Murray, the attorney for plaintiff, testified as to the statement made as follows:

‘‘A. My name is Cicero I. Murray. I am attorney for the plaintiff in this case. I attended the sale of the property involved in this, action on April 12, 1926, and at the time of the sale I made the 'statement to the persons present at the sale that the property would be sold for cash in hand, and that no abstract of title would b'e furnished to the purchaser of the property. He would take the( title just as it was. Q. Did yoiu make any other statement relating to the title to the prop'erty A. None whatever — none other than just to take the title as it was.”

J. O. TiU|Ch, liquidating agent for the Farmers’ Exchange Bank, testified relative to the statement as follows:

‘‘As well as I remember your statement, you just .merely called attention that this sale was for cash in hand, and that whoever bought it would be. buying it just as the titles was — there would be no abstract furnished — something to that effect — I don’t remember the exact words.”
And on cross-examination, as follows:
‘‘Q. Do you recall that he made a statement as to about how the. title — how it came —where it came from, and how -it was derived? A. No, sir: I don’t recall it. Q. You don’t remember that he said anything about the 'same being in the name of a party by the name of Boh Watkins, who is now dead? A. No, I don’t remember that.”

Upon the evidence, the court made a general finding against th'e objection, and overruled same and entered an order confirming the sale.

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Bluebook (online)
1929 OK 29, 276 P. 735, 136 Okla. 162, 1929 Okla. LEXIS 159, Counsel Stack Legal Research, https://law.counselstack.com/opinion/tinch-v-farmers-exchange-bank-okla-1929.