Home Insurance v. Jones
New York Supreme Court
In this action a judgment of foreclosure and sale having been entered, the premises were sold June 9th, 1873, under the direction of the referee, named in said judgment, to one A. C. Milne for the sum of $49,000. At the time of sale the purchaser paid ten per cent of the purchase-money and signed the terms of sale, which prescribed that the purchase should be completed June 28th, 1873. The terms of sale were in the usual printed, form, the third and sixth clauses being -as…
Read the full summary
In this action a judgment of foreclosure and sale having been entered, the premises were sold June 9th, 1873, under the direction of the referee, named in said judgment, to one A. C. Milne for the sum of $49,000. At the time of sale the purchaser paid ten per cent of the purchase-money and signed the terms of sale, which prescribed that the purchase should be completed June 28th, 1873. The terms of sale were in the usual printed, form, the third and sixth clauses being -as follows : 3d. The ¿referee is not required to send any notice to the purchaser; and if he neglects to call at the time…
1Opinion of the CourtFanoher, J.
Forasmuch as none of the parties to the action elected to proceed against the purchaser for not completing his first purchase, and the referee, without any further order from the court, made a resale, I think the purchaser is only bound to complete the second purchase, and, in doing so, is entitled to credit for all moneys he has paid.
2Cited by4 opinions
- Anthon v. BachelorNew York Supreme Court · 1889
- Phelan v. DownsAppellate Division of the Supreme Court of the State of New York · 1901
- Chase v. ChaseNew York Supreme Court · 1884
- In re PhilipNew York Supreme Court · 1916