St. Albans Trust Co. v. Farrar
Supreme Court of Vermont
This cause came on for hearing upon bill, answer, replication and proofs. At the September Term, 1880, Royce, Chancellor, proforma, dismissed the bill. The bill of complaint set forth, that James R. a,nd Harriet N. Watson conveyed to the orator by deed of mortgage executed October 81, 1870, certain land and premises to secure the payment of $2978.50 specified in a written agreement of the same date, signed by said J. R. Watson and the orator.
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This cause came on for hearing upon bill, answer, replication and proofs. At the September Term, 1880, Royce, Chancellor, proforma, dismissed the bill. The bill of complaint set forth, that James R. a,nd Harriet N. Watson conveyed to the orator by deed of mortgage executed October 81, 1870, certain land and premises to secure the payment of $2978.50 specified in a written agreement of the same date, signed by said J. R. Watson and the orator. On the 3d day of November, 1873, said Watsons executed another mortgage to the orator of the same premises to secure the payment of a note bearing date…
1Opinion of the Court
The opinion of the court was delivered by
Royce, J.
Upon the pleadings and proofs we are satisfied that when the mortgage of November 3d, 1873, was given by James R. Watson and wife to the orator, to secure said Watson’s note of *545that date made payable to the orator, the note so given was to be in payment of the pre-existing obligations that the orator had held against Watson, and which were secured by the mortgage of October 31, 1870. The facts, that the last-named mortgage was discharged of record, and that a new mortgage was taken to secure the $1800 note, and that the previous mortgages are…
2Cases cited2 opinions
- Dana v. BinneySupreme Court of Vermont · 1835
- McDonald v. McDonaldSupreme Court of Vermont · 1844
3Cited by3 opinions
- New England Mortgage Security Co. v. Hirsch Bros.Supreme Court of Alabama · 1892
- Elizabethport Cordage Co. v. WhitlockSupreme Court of Florida · 1896
- Breit v. BowlandMissouri Court of Appeals · 1936