Meyer v. HornbyAnnotate this Case
101 U.S. 728 (1879)
U.S. Supreme Court
Meyer v. Hornby, 101 U.S. 728 (1879)
Meyer v. Hornby
101 U.S. 728
1. The ruling in Brooks v. Railway Company, supra, p. 101 U. S. 443, that work done by a contractor upon a part of a railroad then in process of construction entitles his lien, under the laws of Iowa, to precedence over that of a prior mortgage upon the entire road, reaffirmed.
2. The contractor was a stockholder in a construction company, which, when it placed on the market the bonds secured by the mortgage, gave a guaranty that the local subscriptions and grants would be sufficient to prepare the road for the reception of the rails, and also undertook to make good any deficiency. Held that he was not thereby estopped from setting up his lien as against the mortgagee.
3. If the holders of the bonds sustained any loss by reason of the guaranty, the company which gave it is liable in damages.
The facts are sufficiently stated in the opinion of the Court.
Official Supreme Court caselaw is only found in the print version of the United States Reports. Justia caselaw is provided for general informational purposes only, and may not reflect current legal developments, verdicts or settlements. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or information linked to from this site. Please check official sources.