Waldron Bros. v. Dickerson

2 N.W. 1088, 52 Iowa 171
CourtSupreme Court of Iowa
DecidedOctober 25, 1879
StatusPublished
Cited by2 cases

This text of 2 N.W. 1088 (Waldron Bros. v. Dickerson) 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
Waldron Bros. v. Dickerson, 2 N.W. 1088, 52 Iowa 171 (iowa 1879).

Opinion

Beck, Ch. J.

I. The cause was sent to a referee, who found the facts, so far as they are involved in the questions of law arising in the case, to be as follows:

1. July 27, 1875, the defendant Dickerson executed to plaintiffs the mortgage in suit. It was recorded the day of its execution.

2. May 1,1875, Dickerson executed to defendant Chillsom another mortgage on the same lands. The mortgage was re-' corded May 15, 1875.

[172]*1723. The Iowa Loan and Trust Company, having guarantied the payment of the notes secured by the second mortgage, paid a part of them upon default of payment by Dickerson. It thus became the holder of a part of the claim secured by that mortgage.

4. Defendant Harger recovered a judgment against Dickerson March lb, 1875, upon which the lands covered by tlie mortgages above mentioned were sold. The Iowa Loan and Trust Company became assignee of the sheriff’s certificate and received a sheriff’s deed for the lands.

5. The Peoria Marine and Fire Ins. Co. recovered two judgments against Matthew L. Dickerson on tlie 11th of December, 1869. Appeals were prosecuted to tlie Supreme Court from these judgments and each was thereon affirmed. Defendant Brotherson is the assignee of those judgments. Tlie further findings of the referee we will present in the language of his report, as follows:

“ 10. That on the 18th day of January, A. D. 1870, the said William Dickerson entered into a bond before the clerk of the Supreme Court in the usual form of a recognizance,for tlie purpose of staying tlie issue of an execution upon both of the said judgments last named. That the bonds were filed by the clerk of the Supreme Court in his office; that there was no entry made thereof upon the reeord, no minute or memorandum made of the taking or filing of said bond, upon any reeord or book in tlie office of the clerk; that the said L. D. Chill son and the said Waldron Bros, had no actual notice or knowledge, at the time these said mortgages were taken, of tlie fact that said stay bonds bad been filed, nor did they have any actual knowledge that they had ever existed; that the said defendant David ITarger was also a purchaser without such knowledge.
. “11. That at tlie June term, 1876, of the Supreme Court of the State of Iowa, in a proceeding then had before said Court in the matter of the judgments aforesaid, against M. L. Dickerson, and-now owned by said Brotherson as aforesaid, on a motion made in said court by the said Brotherson, for a rule npon the defendant William Dickerson,, to show cause why [173]*173Buck execution should not issue upon the said two judgments against him and his property as surety in the stay bonds aforesaid, the said court entered up and rendered their judgment in the said proceeding, in which judgment is recited the loss of said bonds. In said judgment it is also recited that said bonds had the force and effect of a judgment ag'ainst said William Dickerson and his property, from the 18th day of January, 18T0, and so continued to be. .
“ In said judgment it is also recited, as the finding of the Court, ‘that on the 18th day of Jannaiy, 1870, the said William Dickerson entered into a bond before the clerk of this Court in due form, as a recognizance, for the purpose of staying execution in said case as the law'requires, and that said bond was filed of record by the clerk of this court, etc., and it is found by the referee to be a fact that said Dickerson executed said bonds, and that they were taken by the clerk of the Supreme Court for the purpose of staying said executions, and that said bonds remained in his office until the month of April, 1871, when they were lost, and have not since been found.’ ”

The referee, as a conclusion of law, found and settled the priority of the liens and claims of the parties in the following order;

1. The claim of the Iowa Loan and Trust Company under the judgment rendered in favor of Harger.

2. The lien under the mortgage executed to Chillson.

3. The lien of plaintiffs, Waldron Bros.

4. As to the claim of Brotherson the referee reported the following conclusion of law:

“ 4. In regard to the claim of P. K. K. Brotherson, I find that the stay bonds or recognizances for stay of executions, in the cases named, were from the date of their filing, to-wit: January 18,1870, equitable liens upon the real estate of the defendant William Dickerson, and effective as against him and all other persons having actual notice thereof, hut void as against purchasers and mortgagees for valuable consideration, and without notice; that said bonds were not entered of record so as to he operative, as complete and absolute judgments [174]*174as by confession, and wherefore I hold that the mortgage liens of Waldron Bros., and of Laurenda D. Chillson, and the title of the Iowa Loan and Trust Company, are superior to the equitable lien of the said stay bonds, and should prevail against the same.”

Brotherson excepted to the conclusion of the referee and the court thereupon sustained the exception and entered a decree accordingly providing that Jiis claim shall be paramount to the claims and liens of each and all the other parties. From the decree, on account of this provision, the Iowa Loan and Trust Company and Chillson appeal.

a, lien • aifeegfMiure to record. II. The questions for our determination relate to the legal effect of the stay bonds executed by Dickerson an(^ require us to decide whether these bonds, t^pou the facts found by the referee, were liens upon tlie lands of Dickerson from the date of the filing, as against the defendants, who had no actual notice thereof.

The statutes applicable to the case which we are required to construe are found in the Revision of I860; they are as follows;

“Sec. 3293. When judgment has been rendered against anyone for the recovery of money, he may, by procuring one or more sufficient freehold securities to enter into a recognizance acknowledging themselves security for the defendant for the paymeut of the judgment, together with the interest and costs accrued and to accrue, have a stay of the execution from time of rendering judgment, as follows:”
* » -* * -x- -x -» -x-
“ Sec. 3295. The surety for stay of execution may be taken and approved by the clerk, and the recognizance entered of record. The undertaking in the recognizance shall be for the payment of the judgment, interest and costs, that may accrue at or before the expiration of the term of tlie stay of execution.”
“ Sec. 3298. Every recognizance taken as above provided, shall have the effect of a judgment confessed, from the date thereof, against the property of the sureties.”

Under these provisions the sureties for the stay óf execu[175]*175tion were required to enter into a recognizance. A recognizance is an obligation entered into .before a court. It was formerly sometimes entered into orally by tlie surety without the execution of any writing. In such case it was made of record by proper entry of the fact upon the court roll or record. In other cases it was a written instrument and sometimes a specialty.

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Related

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Bluebook (online)
2 N.W. 1088, 52 Iowa 171, Counsel Stack Legal Research, https://law.counselstack.com/opinion/waldron-bros-v-dickerson-iowa-1879.