Legal Opinion

Pink v. Thomas

Appellate Division of the Supreme Court of the State of New York

Decided June 29, 1939Published

1DissentCallahan, J.

The present certificate contains no plain declaration indicating that the company is to share on a parity with certificate holders in the proceeds of guaranteed mortgages. Under the circumstances the shares assigned should have priority over those retained by the company. (Fullerton v. National B. & T. Ins. Co., 100 N. Y. 76, 80.)

The language relied on by the company in the present case to support its claim for parity is contained in a document which guarantees to the certificate holder payment of the mortgage. It is found in that portion of the contract defining the interest conveyed under…

Also in this document: Concurrence.

2Cases cited6 opinions

Matter of Title Mortgage Guaranty Co.New York Court of Appeals · 1937
In re PeopleNew York Supreme Court · 1934
In Re the Liquidation of New York Title & Mortgage Co.New York Court of Appeals · 1938
In re PeopleAppellate Division of the Supreme Court of the State of New York · 1938
Fullerton v. . Nat'l B. T. Ins. Co.New York Court of Appeals · 1885

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