Ellis v. Craig
New York Court of Chancery
ON a rehearing : The bill was filed October 30th, 1821, for the foreclosure of a mortgage, dated July, 1818, for securing the payment of a bond conditioned to pay 10,000 dollars, on the first day of May, 1825, with lawful interest, payable quarterly.
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ON a rehearing : The bill was filed October 30th, 1821, for the foreclosure of a mortgage, dated July, 1818, for securing the payment of a bond conditioned to pay 10,000 dollars, on the first day of May, 1825, with lawful interest, payable quarterly. The interest was regularly paid to the 1st of August, 1820. On the 25 th of August, 1820, the mortgagors offered to pay the plaintiff the whole principal, with the interest, which the plaintiff refused to receive, alleging that she was not bound, according to the terms and condition of the bond and mortgage, to receive the principal before it was…
1Opinion of the Court
The Chancellor.
The condition of the bond was to pay the principal “ on the first day of May, 1825,” and *8the interest quarter-yearly. The mortgagor repeatedly offered to pay the principal and interest, and the plaintiff refused to accept the principal as not being due, and demanded the arrears of interest, which were refused to be paid, unless the plaintiff would also accept the principal.
The material question upon which the parties are at issue, is, whether the defendant C. was entitled to pay the principal, and discharge the bond and mortgage, against the consent of the plaintiff, before the…
2Cases cited1 opinion
- Campbell v. MacombNew York Court of Chancery · 1820
3Cited by4 opinions
- Wingate v. WingateTexas Supreme Court · 1854
- Peryer v. PennockSupreme Court of Vermont · 1921
- Weideman v. ZielinskaAppellate Division of the Supreme Court of the State of New York · 1905
- Green v. CovillaudYuba District Court · 1857