Franklin Savings Bank v. Cochrane
Massachusetts Supreme Judicial Court
Contract against the maker of a promissory note for a balance alleged to be due after a foreclosure sale and application of the proceeds.
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Contract against the maker of a promissory note for a balance alleged to be due after a foreclosure sale and application of the proceeds. Writ dated November 27, 1899. The defence set up and relied upon was, that the defendant had sold the mortgaged property to the Cochrane Carpet Company, which had assumed and agreed to pay the' note and discharge the mortgage, and that subsequently without the knowledge or consent of the defendant, the plaintiff made an agreement with the carpet company extending the note, and thereafter a further extension, whereby the defendant was discharged from…
1Opinion of the CourtLoring, J.
The first contention of the plaintiff in this case is that the execution of the extensions of the mortgage made by and between the plaintiff savings bank the mortgagee and the Cochrane Carpet Company, the grantee of the equity of redemption, did not operate to discharge the maker of the mortgage note even though they were duly executed and were made without his consent.
The ground on which this contention is made is that by the assumption of the mortgage debt in the conveyance of the mortgaged property to it, the Cochrane Carpet Company did not become liable as between it and the plaintiff to…
2Cases cited3 opinions
- McNeil v. Boston Chamber of CommerceMassachusetts Supreme Judicial Court · 1891
- Lambert v. ShetlerSupreme Court of Iowa · 1887
- Holden v. UptonMassachusetts Supreme Judicial Court · 1883
3Cited by14 opinions
- North End Savings Bank v. SnowMassachusetts Supreme Judicial Court · 1908
- Codman v. DelandMassachusetts Supreme Judicial Court · 1918
- Reeves v. CordesNew Jersey Court of Chancery · 1931
- Silverstein v. SasterMassachusetts Supreme Judicial Court · 1934
- Maglione v. PentaMassachusetts Supreme Judicial Court · 1929
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