Vette v. Hackman

237 S.W. 802, 292 Mo. 138, 1922 Mo. LEXIS 197
CourtSupreme Court of Missouri
DecidedFebruary 18, 1922
StatusPublished
Cited by9 cases

This text of 237 S.W. 802 (Vette v. Hackman) 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
Vette v. Hackman, 237 S.W. 802, 292 Mo. 138, 1922 Mo. LEXIS 197 (Mo. 1922).

Opinion

WALKER, J.

This is an action at law brought in the Circuit Court of the City of St. Louis on a written guaranty made by the defendant to the plaintiff: to secure the payment of a deed of trust. Upon a trial, a jury being waived, the court found in favor of the defendant, from which judgment this appeal has been perfected.

The guaranty in question was as follows:

“St. Louis, Mo., Sept. 19, 1909.
'“Mr. J. H. Vette, City. Dear Sir: For value received, I hereby guarantee the payment of a $15,500 deed *142 of trust, 6%, executed by George Blockburger and wife to Samuel S. Snow, trustee, together with interest thereon, when the same becomes due, on property in City Blocks 2446 and 2447, City of St. Louis, Mo.
“F. X. Hackman.’’

The petition pleads the execution of the guaranty and the deed of trust therein mentioned; the making of the principal note for $15,500, due on or before two years, and four semi-annual interest notes for the sum of $465, each with eight per cent interest thereon from maturity, also secured by the deed of trust; the payment of three of said interest notes and a default in the payment of the fourth and the principal note; demand of payment and failure to pay; that the deed of trust was foreclosed according to law and the property sold at public sale on the 8th day of September, 1914, for the sum of $10,000; that after paying the charges of the trustee’s sale and the last interest note, the trustee had in his hands a balance of $9,255.29, which was credited upon the principal note; that after crediting said note with all payments thereon, all of which is specifically pleaded, there remained due and unpaid on said principal note the sum of $9,891.45 with interest thereon from September 8, 1914; that'plaintiff has made demand of the defendant for the payment of said sum, which has been refused; wherefore judgment is prayed for in the amount stated.

The answer was first a general denial.

Second, that in May, 1914, one Dunaway and wife, the then owners of the real estate described in the deed of trust, conveyed a portion of same to the plaintiff upon his agreement to accept'and his acceptance of such conveyance in full payment and ratification of the notes secured by said deed of trust, and that thereby said note sued on was paid, settled and discharged.

Third, that in July, 1911, plaintiff, without the consent of the defendant, released three of the lots covered by said deed of trust and that by reason of said release, defendant’s guaranty was so far altered that he was re-* leased from liability thereunder.

*143 Fourth, that plaintiff delayed in making the foreclosure and sold the real estate at an inopportune time at the inadequate sum of $10,000; that if properly sold, the property would have brought an amount in excess of the amount due under the deed of trust; that having acquired the property under such circumstances, the plaintiff is more than repaid for the amount due on said notes and has lost nothing in having, made the loan.

Fifth, that after the plaintiff began to advertise the land for sale under the deed of trust, the plaintiff met the defendant and told him that the real estate advertised was worth much more than the amount due the plaintiff on the notes secured by the deed of trust, and that he would buy in said property for the amount due upon the notes if no one else bid a larger sum, and that plaintiff told defendant that he need not concern himself about the sale of said property and that there would be no deficiency in the sale of same and that he would see that it brought the amount of the secured notes; that relying upon said assurance, defendant did not attend the sale and did not attempt to interest others in said property, so as to prevent the sacrifice of same. That thereby plaintiff so misled the defendant that plaintiff is estopped to claim that the price at which he purchased the property at said sale is the market value thereof; and is estopped to claim any sum or sums from defendant on account of the guaranty set forth in plaintiff’s petition.

The reply pleads, first, the judgment of the Circuit Court of the City of St. Louis in Dunaway et al. v. Alewel et al., affirmed by the Supreme Court prior to the trial in the instant case and reported in 204 S. W. 726, as a former adjudication of the matters set up in the second defense in the answer; second, specific denials of the matters set up in the third subdivision of the answer; third, an admission that plaintiff did release the three lots mentioned in defendant’s answer, subdivision 3, but that said release was made at the instance and request of and with the. full knowledge and consent of the de *144 fendant and that the consideration for said release was credited upon the mortgage note for the benefit of the defendant and with his knowledge; fourth, plaintiff denies each and every other allegation in said answer set forth and contained.

After the decision in Dunaway et al. v. Alewel et al., supra, the defense set up in subdivision two of the answer as above summarized and the first plea in the reply relating thereto were withdrawn and are, therefore, not for consideration. The execution of the guaranty under oath was admitted.

The trial resulted in a finding; in favor of the plaintiff on all of the defenses pleaded in the answer except the fourth and fifth, which, save as to the alleged unreasonable delay pleaded in the fourth, were found in favor of the defendant, and a judgment rendered thereon.

The material portion of the fourth defense, omitting therefrom the allegation as to unreasonable delay in the foreclosure, is that the plaintiff in acquiring the property at the sale under the deed of trust was more than repaid for all moneys due upon the notes and that plaintiff has lost nothing by reason of the making of the loan.

The finding of the trial court in favor of the defendant’s fifth defense is supplemented by the conclusion that in the purchase of the property at the foreclosure the plaintiff suffered no loss. It is evident therefore that the court’s ruling in regard to the fourth defense is based upon the sustaining of the fifth.

Other than the correctness of the court’s ruling in sustaining the fifth defense, we need not concern ourselves, all other matters being eliminated. This defense is set forth in haec verba in what is in other respects a summary of the pleadings.

It will profit nothing to set out the testimony in detail. To enable it to be satisfactorily determined whether there was substantial testimony to sustain the trial court’s action in finding in favor of .the defendant upon the fifth defense, it will suffice to say that however much each of the parties have sought to assail the credi *145

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Bluebook (online)
237 S.W. 802, 292 Mo. 138, 1922 Mo. LEXIS 197, Counsel Stack Legal Research, https://law.counselstack.com/opinion/vette-v-hackman-mo-1922.