Woodward v. Wilcox

27 Ind. 207
CourtIndiana Supreme Court
DecidedNovember 15, 1866
StatusPublished
Cited by8 cases

This text of 27 Ind. 207 (Woodward v. Wilcox) is published on Counsel Stack Legal Research, covering Indiana Supreme Court primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
Woodward v. Wilcox, 27 Ind. 207 (Ind. 1866).

Opinion

Elliott, J.

Suit by Wilcox against Jackson and Woodward.- The complaint is in three, paragraphs, the first of which prays for a judgment against Jackson, on two promissory notes executed by him on the 20th of May, 1859, payable to Wilcox; one for six hundred and sixty-seven dollars, at one year, with interest from date; the other for six hundred and sixty-six dollars, at two years, with interest from date. It also seeks the foreclosure of a mortgage executed by Jackson to Wilcox, on the 26th of May, 1859, upon certain personal property, to secure the payment of said notes. It further alleges, that Wooclioard claims some interest in the propez’ty moi’tgaged, and makes him a defendant. [209]*209Copies of the notes and mortgage are filed with and made a part of the complaint. The property is described in the mortgage as “all the hooks, stationery, wall paper, and stock in trade generally, and all the fixtures and furniture of every kind and description, now (then) owned and held by said party of the first part, in the store rooms (then) occupied by him as a book and stationery store,” &c. The mortgage was given to secure, in addition to the notes sued on, another note of the same date, for six hundred and sixty-seven dollars, payable three years after date, and also two hills of exchange, each for the sum of one thousand dollars, dated May, 20th, 1859, drawn by Wilcox and accepted by Jackson, and payable, one in six and the other in eight months from date. The second paragraph alleges that Woodward, on the 14th day of March, 1861, recovered a judgment against Jackson for three thousand three hundred and forty-seven dollars and eighty-seven cents, and' for the foreclosure of a mortgage to secure the same, on the same personal property, but junior to the plaintiff's mortgage; said mortgage to Woodward having been executed on the 5th day of June, 1860; that Woodward caused said property to be levied upon and sold on an order of sale issued on his said judgment of foreclosure, and that he became the purchaser of a large amount thereof, and received the proceeds of the residue, amounting to one thousand five hundred and twenty-two dollars; that said Woodward, prior to said sale, claiming under his said mortgage, seized and took possession of said mortgaged property, and disposed of and converted one thousand dollars thereof, in value, to his own use. Prayer that Woodward he compelled to account, &c. The third paragraph, after alleging the execution of the-notes and mortgage by Jackson to Wilcox, substantially as set out in the first paragraph, states that Jackson afterwards,, on the 5th day of June, 1860, executed and delivered to Woodward another and junior mortgage on the same personal property, to secure a debt which he owed said Woodward, of three thousand three hundred and forty-seven dol[210]*210lars and eighty-seven cents; that said property, at the date of the last named mortgage, was of sufficient value to secure and pay both said mortgage debts; that afterwards it was agreed by said Jackson and Woodioard, “that said Woodward should take possession of said store, and sell out said mortgaged property for the best price he could obtain, and pay with the proceeds, first, the said debt due the plaintiff; second, his own debt; and third, to pay the overplus to said Jackson;” that, according to said agreement, Woodward took possession of the store and of said mortgaged property, and proceeded to sell the same; that the plaintiff', expecting that his said debt would be paid out of the proceeds of the property, pursuant to said agreement, took no steps to secure the same, but suffered Woodward to sell said property and collect the proceeds thereof; that Woodward, under said agreement, sold a part of the mortgaged property and collected the proceeds of the sales, •amounting to four thousand dollars, and converted the remainder of the property to his own use; that the property was sold out to different persons, in small parcels, and taken •■away, so that it cannot be found for the purpose of being sold to satisfy the plaintiff’s debt; that at the time of executing said mortgage, said Jackson was, and ever since has been, insolvent, and has no other property subject to execution; and that Woodward, though often requested, has failed and refused to pay said debt to the plaintiff. Prayer that Woodward be compelled to account for the proceeds of said property and pay the amount of the debt due the plaintiff, &c., and for general relief. ■

The defendant Woodward demurred to each paragraph •of the complaint, separately. The demurrers were overruled, and he then filed an answer in several paragraphs, as follows:

1. The general denial. 2. To the second paragraph of the complaint, by way of estoppel, that the plaintiff attended the sheriff’s sale of the property referred to in that paragraph of the complaint, and saw the defendant and [211]*211others purchasing said property and paying for the same; that he thus stood by and made no objection to said sale, nor gave any notice whatever that he claimed any interest in or title to the said property, and was therefore estopped, &c. 3. To the.first and second paragraphs of the complaint, that on the 20th of May, 1859, the plaintiff and said Jackson were partners, under the firm name of Jackson § Wilcox, and as such were the owners of all the chattels in the complaint mentioned; that on said day said Jackson £ Wilcox executed and delivered to the defendant Woodward their mortgage, conveying to him said chattels, which is in full force, and the debts therein set out unpaid. A copy of the mortgage was filed with the answer. 4. In answer to the third paragraph of the complaint, “that all the matters in the above third plea set out are true, in manner and form as the same are therein alleged.” 5. In answer to the second paragraph of the complaint, that on the 14th of March, 1861, the plaintiff-indorsed and delivered to one John Austin, the two bills of exchange named in the mortgage executed by Jackson to the plaintiff, set out in the complaint; that on the 15th day of March,-1861, Austin obtained a judgment of foreclosure, in the Court of Common Pleas of Floyd county, upon the same mortgage mentioned in the complaint, and upon said bills of exchange, they being first due under the same; that on the 20th of January, 1862, Austin sued out an execution on said judgment, and on the same day “the goods and chattels in the complaint mentioned were each and every one of them seized by the sheriff bf Floyd county, Indiana, and taken out of the custody of this defendant and sold by the said sheriff, wherefore the defendant prays judgment.” 6. “And for further answer to the third paragraph of the complaint, the defendant avers that the matters in the above fifth plea contained are true, in manner and form as they are therein alleged, wherefore he prays judgment.” «.

[212]*212The plaintiff demurred to the second, third, fourth and fifth paragraphs of Woodward’s answer. The court sustained the demurrers to the second and third and overruled those to the fourth and fifth paragraphs.

The defendant Jackson

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Bluebook (online)
27 Ind. 207, Counsel Stack Legal Research, https://law.counselstack.com/opinion/woodward-v-wilcox-ind-1866.