Waring v. . Loder
New York Court of Appeals
Appeal from order of the General Term of the Supreme Court in the fourth judicial department, affirming an order of Special Term directing that a judgment for a deficiency, docketed in this action against the defendant Loder, be satisfied and discharged of record. This was an action to foreclose a mortgage.
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Appeal from order of the General Term of the Supreme Court in the fourth judicial department, affirming an order of Special Term directing that a judgment for a deficiency, docketed in this action against the defendant Loder, be satisfied and discharged of record. This was an action to foreclose a mortgage. On the 6th of July, 1871,• the defendant, William A. Loder, executed the bond and mortgage described in the complaint to Julius F. Miner, to secure the payment of $1,500. The mortgage contained an insurance clause as follows: “And the said William A. Loder does further covenant, for…
1Opinion of the CourtAndrews, J.
The Lycoming Insurance Company, in respect to the right to enforce the judgment against the defendant Loder for the deficiency on the foreclosure sale, stands in the place of Waring, their assignor.
The assignee of a judgment takes it subject to the equities of the judgment debtor, and if the judgment could not have been enforced by Waring at the time of the assignment, the company hold it subject to the same disability. (Douglass v. White, 3 Barb. Ch., 621.)
The insurance in the Lycoming Insurance Company was effected by Minor, the mortgagee, under the authority contained in the mortgage. ■…
2Cases cited4 opinions
- Kernochan v. . the New-York Bowery Fire Insurance CompanyNew York Court of Appeals · 1858
- Herkimer v. . RiceNew York Court of Appeals · 1863
- The Buffalo Steam Engine Works v. . the Sun Mut. Ins. Co.New York Court of Appeals · 1858
- Douglass v. WhiteNew York Court of Chancery · 1846
3Cited by31 opinions
- Rohrbach v. . Germania Fire Ins. Co.New York Court of Appeals · 1875
- Savarese v. Ohio Farmers Insurance Co. of LeroyNew York Court of Appeals · 1932
- Walter v. Marine Office of AmericaCourt of Appeals for the Fifth Circuit · 1976
- Fields v. Western Millers Mutual Fire Insurance Co.New York Court of Appeals · 1943
- Foster v. . Van ReedNew York Court of Appeals · 1877
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