Bayonne Building & Loan Ass'n v. Williams

Pitney, V. C.

The complainant loaned money to the defendant Williams, to enable her to build a house on premises owned by her, and she gave complainant a mortgage, to secure the same in advance of the payment, the understanding being that the complainant was entitled to have the money appropriated to the payment of the contract price of the building to be erected. It was erected by the defendant Stanbrough under a written contract between him and the defendant Williams.

Before the last payment came due divers stop-notices were served on Miss Williams, under the third section of the Mechanics’…