Woodward v. Jewell - 140 U.S. 247 (1891)
U.S. Supreme Court
Woodward v. Jewell, 140 U.S. 247 (1891)
Woodward v. Jewell
Argued April 15, 1891
Decided May 11, 1891
140 U.S. 247
APPEAL FROM THE CIRCUIT COURT OF THE UNITED
STATES FOR THE SOUTHERN DISTRICT OF GEORGIA
The amount involved in this case, when interest is properly computed, is sufficient to give the court jurisdiction.
A contract by a mortgagee, made on receiving the mortgage, that he will hold the securities, and that the mortgagor may "sell the property named in said deeds and make titles thereto, the proceeds of the sale to go to the credit of" the mortgagee, gives to the mortgagor power to sell for cash, free from the mortgage, but not to exchange for other lands, and does not cast upon the purchaser for cash the duty of seeing that the mortgagor appropriates the proceeds according to the agreement.