Londner v. Perlman
Appellate Division of the Supreme Court of the State of New York
Appeal by the plaintiff, Isidore Londner, from portions of a judgment of the Supreme Court in favor of the defendants, entered in the office of the clerk of the county of New York on the 24th day of March, 1903, upon the decision of the court rendered after a trial at the New York Special Term adjudging a mortgage held by the defendant, the State Bank, to he prior and paramount to a mortgage held by the plaintiff.
1Opinion of the Court
Scott, J.:
The facts upon which this controversy arises have been so fully stated by Mr. Justice Ingraham that it will be unnecessary to restate them. The subordination clause in the agreement between Perl, man and Bernikow, and Bernheimer was absolute and uncondi*95tional. The State Bank, or any other lender advancing money upon a building loan, was entitled to rely upon the promise therein contained. It would have been Bernheimer’s duty, if called upon, to execute a subordination agreement, but in my opinion it was not necessary that he should do so in order to make the subordination effective.
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2Cases cited3 opinions
- McNeil v. . the Tenth National BankNew York Court of Appeals · 1871
- Jackson v. NicolAppellate Division of the Supreme Court of the State of New York · 1897
- Rose v. Provident Saving, Loan & Investment Ass'nIndiana Court of Appeals · 1901
3Cited by7 opinions
- Providence Engineering Corp. v. Downey Shipbuilding Corp.Court of Appeals for the Second Circuit · 1923
- Mitchell v. West End Park Co.Supreme Court of Georgia · 1930
- Comptroller v. Gards Realty Corp.Appellate Division of the Supreme Court of the State of New York · 1979
- Drobnick v. Western Fed. Sav. & L. Ass'n of DenverColorado Court of Appeals · 1970
- Levitz v. Capitol Savings & Loan Co.Michigan Supreme Court · 1934
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