Laconia Savings Bank v. Vittum
Supreme Court of New Hampshire
Bill in Equity, praying that a discharged mortgage may be decreed to be in force, and for a foreclosure. Facts found, and case transferred from the November term, 1901, of the superior court, by Peaslee, J. In May, 1888, Vittum was indebted to the defendants Mattoon and Busiel. Subsequently he borrowed $1,800 of one Melcher, for which he gave his note and a real estate mortgage as security.
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Bill in Equity, praying that a discharged mortgage may be decreed to be in force, and for a foreclosure. Facts found, and case transferred from the November term, 1901, of the superior court, by Peaslee, J. In May, 1888, Vittum was indebted to the defendants Mattoon and Busiel. Subsequently he borrowed $1,800 of one Melcher, for which he gave his note and a real estate mortgage as security. The mortgage was recorded, and it and the note were pledged by Melcher to the plaintiff bank to secure his note for a like amount. In 1890, Vittum gave Mattoon and Busiel mortgages upon the same land to…
1Opinion of the Court
Wat,™., J.
The plaintiff seeks a foreclosure of the mortgage which it originally received as collateral security for Melcher’s note. The defendants, including the mortgagor and two subsequent mortgagees, defend upon the ground that the Melcher note and the collateral note and mortgage having been cancelled and surrendered, and a new note and mortgage having been given to the plaintiff in place of the original notes and mortgage, the plaintiff must now rely wholly and exclusively upon the last security. The effect of this claim, if valid, would be to make the plaintiff’s security subordinate to…
2Cases cited6 opinions
- Overholser v. ClarkTennessee Supreme Court · 1850
- Packard v. KingmanSupreme Court of Iowa · 1860
- Cobb v. DyerSupreme Judicial Court of Maine · 1879
- Campbell v. TrotterIllinois Supreme Court · 1881
- Pouder v. RitzingerIndiana Supreme Court · 1885
1 more not listed; retrieve them via the Exa API.
3Cited by6 opinions
- Hilco, Inc. v. LenentineSupreme Court of New Hampshire · 1997
- Wells v. HuffmanIndiana Court of Appeals · 1919
- United States v. Boston & Berlin Transportation Co.District Court, D. New Hampshire · 1964
- Phinney v. Cheshire County Savings BankSupreme Court of New Hampshire · 1940
- Rossiter v. SanaghiaroSupreme Court of New Hampshire · 1917
1 more not listed; retrieve them via the Exa API.