Bergman v. Fortescue
New Jersey Court of Chancery
The bill is filed to foreclose a purchase-money mortgage for $100,000 made by Jane Forteseue to the Columbia Real Estate Company and dated March 1st, 1906. The mortgage, by its terms, matures five years after its date; but the mortgage and the bond which it secures contain a provision to the effect that the mortgagee may declare the whole principal debt due in the event of any failure on the part of the mortgagor to pay all taxes which may at any time be assessed against the…
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The bill is filed to foreclose a purchase-money mortgage for $100,000 made by Jane Forteseue to the Columbia Real Estate Company and dated March 1st, 1906. The mortgage, by its terms, matures five years after its date; but the mortgage and the bond which it secures contain a provision to the effect that the mortgagee may declare the whole principal debt due in the event of any failure on the part of the mortgagor to pay all taxes which may at any time be assessed against the property and to produce t'o the mortgagee a tax receipt therefor within thirty days after such taxes shall have become…
1Opinion of the Court
Leaming, V. C.
I am convinced that neither of the interest payments operated as a waiver of complainant’s rights to enforce the payment of the entire mortgage debt.
In accepting the interest payment of March 30th, the mortgagee cannot be said to have waived the benefit of the covenant touching the non-payment of the tax, for such non-payment was unknown to the mortgagee at that time. It would be unreasonable to hold that the non-production of the tax receipt operated to charge the mortgagee with knowledge that the tax was unpaid. It is entirely consistent with common experience in such cases…
2Cited by11 opinions
- Harrison v. BealsOregon Supreme Court · 1924
- Gilbert v. Pennington Trap Rock Co.New Jersey Court of Chancery · 1944
- Derechinsky v. EpsteinNew Jersey Court of Chancery · 1925
- Galka v. Tide Water Associated Oil Co.New Jersey Court of Chancery · 1943
- Escher v. Harrison Securities Co.Court of Appeals for the Ninth Circuit · 1935
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