National Shoe & Leather Bank v. August
New Jersey Court of Chancery
Final hearing on pleadings and proofs. The suit was commenced by a creditors’ bill framed under the eighty-eighth and subsequent sections of the Chancery act (Rev. p. 120). An order for discovery was made therein and the defendants were examined, and subsequently a new bill was filed, based, in part, upon the result of the said discovery. The complainant is a judgment creditor of the defendants Simon, Jacob and Abraham August.
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Final hearing on pleadings and proofs. The suit was commenced by a creditors’ bill framed under the eighty-eighth and subsequent sections of the Chancery act (Rev. p. 120). An order for discovery was made therein and the defendants were examined, and subsequently a new bill was filed, based, in part, upon the result of the said discovery. The complainant is a judgment creditor of the defendants Simon, Jacob and Abraham August. The debt is that of Jacob and Abraham, who were doing business when it was contracted under the name of' “August Brothers.” Simon August, the other defendant, appears…
1Opinion of the Court
Pitney, Y. C.
First. A reading of the instrument in question leads me to the conclusion that it is, in its essential features, a mortgage, and not, as was contended by counsel for defendants, a mere conveyance absolute with power of sale for the purpose of paying, pro *185tanto, a debt. The use of the words, “ to have and to hold to the said Henrietta August as security for the payment of the. said indebtedness to her,” and the provision for rendering the surplus to the grantors, seem to me to render it a mortgage rather than an absolute conveyance. A right of redemption upon payment of the…
2Cases cited4 opinions
- Stephens v. . PerrineNew York Court of Appeals · 1894
- Mandeville v. . AveryNew York Court of Appeals · 1891
- Tremaine v. . MortimerNew York Court of Appeals · 1891
- Kitchen v. . LoweryNew York Court of Appeals · 1891
3Cited by1 opinion
- Lion Shoe Co. v. PriceNew Jersey Court of Chancery · 1931