Isaacs v. Van Hoose

This is a suit by the holders of certain mortgage notes against the maker for the difference between the aggregate amount of the notes and the net proceeds of the sale of the mortgaged property.

The defendant by way of exception of no cause of action pleaded that he had been dis charged, (1) because the debt had been novated by the acceptance by the creditor of the obligation of the vendees of the maker of the notes, who had assumed the payment in their purchase of the mortgaged property, (2) by the extension of the time of payment of said notes granted by the holders to the assumers without…