Torrey v. Bank of Orleans
New York Court of Chancery
This was an appeal from a decree of the vice chancellor of the eighth circuit. Torrey, one of the complainants, being the owner of four lots of land, numbered 12, 169, 170 and 182, containing from 93 to 100 acres each, and 40 acres of another lot known as Torrey’s Homestead farm, mortgaged the whole to the Farmers’ Loan and Trust Company in 1835, to secure the payment of $3000, in December, 1840, with annual interest j the whole to become due and payable if the interest…
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This was an appeal from a decree of the vice chancellor of the eighth circuit. Torrey, one of the complainants, being the owner of four lots of land, numbered 12, 169, 170 and 182, containing from 93 to 100 acres each, and 40 acres of another lot known as Torrey’s Homestead farm, mortgaged the whole to the Farmers’ Loan and Trust Company in 1835, to secure the payment of $3000, in December, 1840, with annual interest j the whole to become due and payable if the interest should be in arrear for thirty days after it was due. In June, 1838, Torrey agreed to sell to Burnet lots No. 169 and 170,…
1Opinion of the Court
The Chancellor.
The vice chancellor was clearly right in this case in supposing that the Bank of Orleans, as between that institution and the complainant Torrey, or any persons claiming an interest in lot No. 182, under him, was bound to pay off and satisfy the mortgage to the extent of $1747 and interest, and a proportionate amount of the costs. And the Bank of Monroe was in the same manner bound in equity to pay off the other $>1000 and interest and one third of the costs. The deeds themselves which are in evidence show this, independent of any parol testimony, except so far as such…
2Cases cited1 opinion
- Sinclair v. Jackson ex dem. FieldCourt for the Trial of Impeachments and Correction of Errors · 1826
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- Veazie v. WilliamsSupreme Court of the United States · 1850
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