Bradley v. Chester Valley Railroad
Supreme Court of Pennsylvania
Appeal in Equity from the Court of Nisi Prius. This was a bill in equity exhibited by John Bradley, as a bondholder of The Chester Valley Railroad Company, secured by a mortgage of the 1st May 1852, as well for himself as for all other holders of like bonds, who might choose to become parties to the suit, and contribute to the expenses thereof, against The Chester Valley Railroad Company, and Shepherd Knapp, Alfred S. Frazer, and Daniel S. Miller, the trustees named in the…
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Appeal in Equity from the Court of Nisi Prius. This was a bill in equity exhibited by John Bradley, as a bondholder of The Chester Valley Railroad Company, secured by a mortgage of the 1st May 1852, as well for himself as for all other holders of like bonds, who might choose to become parties to the suit, and contribute to the expenses thereof, against The Chester Valley Railroad Company, and Shepherd Knapp, Alfred S. Frazer, and Daniel S. Miller, the trustees named in the said mortgage, to compel a sale under the mortgage for the benefit of the bond-holders. The mortgage was as follows:— “…
1Opinion of the Court
*149The opinion of the court was delivered by
Woodward, J.
The remedies of a mortgagee against his mortgagor, as existing at common law, and as modified in equity, may be stated briefly as follows :—
*1501st. He had a right to take possession of the mortgaged premises, and to use and enjoy them as a prudent owner would do; but correlative to this was the right of the mortgagor, to compel him to account for the profits, and to restore the possession when the rents and profits of the estate had paid debt, interest, and charges.
2d. The right of foreclosure, whereby he acquired an absolute title to the…
2Cited by9 opinions
- McDougall v. Huntingdon & Broad Top R. & C. Co.Supreme Court of Pennsylvania · 1928
- Commonwealth v. Susq. & Del. River R.Supreme Court of Pennsylvania · 1888
- Mollenauer v. SmithSuperior Court of Pennsylvania · 1912
- In re DavisCourt of Appeals for the Third Circuit · 1909
- Fleming v. Fairmont & Mannington RailroadWest Virginia Supreme Court · 1913
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