Prime v. . Koehler
New York Court of Appeals
Appeal from judgment of the General Term of the Court of Common Pleas in and for the city and county of Hew York, affirming a judgment in favor of plaintiff, entered upon a decision of the court on trial, without a jury. This action was brought to recover the amount of two installments of interest due upon a bond and mortgage executed by Joseph M. Koehler to plaintiff Prime, a half interest wherein was subsequently assigned to plaintiff Ross.
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Appeal from judgment of the General Term of the Court of Common Pleas in and for the city and county of Hew York, affirming a judgment in favor of plaintiff, entered upon a decision of the court on trial, without a jury. This action was brought to recover the amount of two installments of interest due upon a bond and mortgage executed by Joseph M. Koehler to plaintiff Prime, a half interest wherein was subsequently assigned to plaintiff Ross. By the terms of the bond and mortgage interest was covenanted to be paid semi-annually, and in case of a default in payment continuing for thirty days…
1Opinion of the CourtAndrews, J.
The defendant upon the conveyance to him did not assume the payment of the mortgage. The mortgage was a lien upon the land, ánd his grantor wras personally liable upon his bond for the mortgage debt, but the defendant did not become personally bound to pay the mortgage. After the defendant had taken the conveyance default was made in the payment of interest, and this default having continued for more than thirty days, the principal sum by the terms of the mortgage became due at the option of the mortgagees. The defendant thereupon verbally agreed with the mortgagees that if they would not…
2Cases cited2 opinions
- Mallory v. . GillettNew York Court of Appeals · 1860
- Farley v. ClevelandNew York Supreme Court · 1825
3Cited by14 opinions
- Raabe v. . SquierNew York Court of Appeals · 1895
- Johnson v. CunninghamSupreme Court of Kansas · 1917
- Gerow v. RiffeWest Virginia Supreme Court · 1887
- Mutual Life Insurance v. HallAppellate Division of the Supreme Court of the State of New York · 1898
- Mutual Life Insurance v. Yates County National BankAppellate Division of the Supreme Court of the State of New York · 1898
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