SUNNY SOUTH PACKING COMPANY
v.
PARKER BROTHERS, A CORP., ET AL.
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The Florida Supreme Court affirmed a lower court's decision that a mortgage assignee was bound by a compromise settlement, reducing the debt from $5,500 to $1,963.39. The court found no reversible error in the lower court's ruling.
Yes, the assignee of the mortgagees was bound by the compromise settlement that adjusted the $5,500 mortgage debt to $1,963.39.
“Upon pleadings and the evidence, the Chancellor found that the assignee of the mortgagees was bound by the adjustment of the $5,500.00 debt for $1,963.39”
Establishes the lower court's finding that the assignee was bound by the settlement.
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Join FLexlaw to unlock all legal intelligenceThe plaintiff corporation, as assignee of certain mortgages, sought to enforce a mortgage for $5,500. The defense argued that a compromise settlement …
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In a suit by the plaintiff corporation, assignee of the mortgages, to enforce a mortgage for $5,500.00, a defense was interposed that in compromise settlement with the creditors of the mortgagor corporation on a basis of 25 °/0 of amounts due such creditors, a note for $1,965.59 was given in adjustment of the mortgage debt represented by the notes for $5,500.00,’but the noter for $5,500.00 and the note for $1,963.39 were in the possession of the assignee of the mortgagees who claimed the larger amount as due.
Upon pleadings and the evidence, the Chancellor found that the assignee of the mortgagees was bound by the adjustment of the $5,500.00 debt for $1,963.39, and there is nothing in the record to justify a reversal-of the decree for plaintiff predicated upon the lesser amount with reasonable attorney fees and costs. No material, if any, error of law or of procedure is made to’ appear.
Affirmed.
Terrell, C. J., and Wi-iitfield, Brown, Buford, Chapman and Thomas, J. J., concur.
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Indian Harbor Ests., Inc. v. Wagner, 148 So. 2d 757 (Fla. 1st DCA 1963)…ses. Clark v. Caldwell, 95 Fla. 754, 116 So. 632 (1928), Cameron v. Baker, Gieb & Schaub Motors, Inc., 96 Fla. 389, 118 So. 423 (1928), Gulf Power Co. v. Illinois-Florida Land Co., 100 Fla. 1594, 132 So. 109 (1931), and Evans v. Green, 138 Fla. 284, 189 So. 232 (1939). Ordered and decreed accordingly. CARROLL, DONALD K., C. J., and STURGIS and RAWLS, JL, concur.…