Opinion · Supreme Court of the United States

Schroeder v. Young

161 U.S. 334

Type
Opinion
Court
Supreme Court of the United States
Jurisdiction
Federal
Date
1896-03-02
Topic
general

Mr. Justice Brown, after stating the case, delivered the opinion of the court. Plaintiff renes mainly for a decree in this case upon the fact that his interest in the property in question, which the trial court found to be worth $26,000, was sacrificed at these several judicial sales to pay a judgment of little more than $1700. While mere inadequacy of price has rarely been held suffi *338 cient in itself to justify setting aside a judicial sale of property, courts are not slow to seize upon other circumstances impeaching the fairness of the transaction, as a cause for vacating it, especially if the inadequacy be so gross as to shock the conscience. If the sale has been attended by any irregularity, as if several lots have been sold in bulk where they should have been sold separately, or sold in such manner that their full value could not be realized; if bidders have been kept away; if any undue advantage has been taken to the prejudice of the owner, of the propertjq or he has been lulled into a false security; or, if the sale has been collusively, or in any other manner, conducted for the benefit of the purchaser, and the property has been sold at a greatly inadequate price, the sale may be set aside, and' the owner permitted to redeem.

Citator

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Cited by
127 opinions

Headnotes

  1. Civil Procedure — Judicial Sales Mere inadequacy of price is rarely sufficient by itself to justify setting aside a judicial sale of property; however, courts readily seize upon other circumstances impeaching the fairness of the transaction as a cause for vacating it, especially where the inadequacy of price is so gross as to shock the conscience. 161 U.S. 334, 338-339
  2. Civil Procedure — Judicial Sales A judicial sale may be set aside and the owner permitted to redeem where the sale was attended by any irregularity, such as selling several lots in bulk that should have been sold separately or in a manner preventing realization of their full value, keeping bidders away, taking undue advantage to the prejudice of the owner, lulling the owner into a false security, or conducting the sale collusively or otherwise for the benefit of the purchaser, where the property was sold at a greatly inadequate price. 161 U.S. 334, 338-339
  3. Civil Procedure — Judicial Sales Although there is no general rule barring an attorney from purchasing at an execution sale provided it is not done to the prejudice of his own clients, such a purchase is itself calculated to throw doubt upon the fairness of the sale and, upon slight additional facts, may be deemed fraudulent or held in trust for the debtor. 161 U.S. 334, 342-343
  4. Civil Procedure — Execution Sales Where an alias execution issues for the full amount of the original judgment without deducting sums already realized on a prior execution, and property is sold thereunder for an amount exceeding what remains due, the proceedings are irregular as to the parties conducting them, and the excess realized should be returned to the judgment debtor, the judgment creditor being entitled to no more than the amount of its claim. 161 U.S. 334, 343-344
  5. Civil Procedure — Judicial Sales A purchaser who, as attorney for the judgment creditor, furnished the officer with the description of the property to be levied upon, was the sole bidder at each sale, and formed the intention before the sales that, regardless of the value of the property, a balance would be left after each sale so that all of the debtor's property would be sold, is bound by those acts; and a partner who acquired title through such purchases cannot set up a title so acquired while repudiating the acts connected with its acquisition. 161 U.S. 334, 344-345
  6. General — Estoppel — Redemption from Execution Sale A purchaser at an execution sale who, before the statutory redemption period expired, assured the debtor that he would not be pushed and that the statutory time to redeem would not be insisted upon, and upon whose assurance the debtor relied, is estopped from insisting upon the statutory period, notwithstanding that the assurances were not in writing and were made without consideration. 161 U.S. 334, 346
  7. Remedies — Jurisdiction Where fraudulent conduct is imputed to the parties conducting a judicial sale, a court of equity has concurrent jurisdiction, founded upon its general right to relieve from the consequences of fraud, accident, or mistake, which may be exercised notwithstanding the expiration of the statutory period for redemption. 161 U.S. 334, 346-347