De Mott v. Starkey
New York Court of Chancery
This was an appeal from a decree of the assistant vice chancellor of the first circuit. The facts as established by the pleadings and proofs, and the proceedings in the cause, were substantially as follows: The complainant being the owner of a farm in the county of Seneca, sold it to H. Montgomery, and took from him a bond and mortgage to secure the payment of the purchase money.
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This was an appeal from a decree of the assistant vice chancellor of the first circuit. The facts as established by the pleadings and proofs, and the proceedings in the cause, were substantially as follows: The complainant being the owner of a farm in the county of Seneca, sold it to H. Montgomery, and took from him a bond and mortgage to secure the payment of the purchase money. Montgomery afterwards sold and conveyed the farm to W. W. Starkey, one of the defendants in this suit, and took from him a bond and mortgage to secure the purchase money on that sale; amounting to §5280, payable in…
1Opinion of the Court
The Chancellor.
The assistant vice chancellor arrived at a correct conclusion in this case, not only as to the matters of" fact, but also: as-to the legal and1 equitable rights of-the parlies; The evidence fully establishes the fact that the $700'note in controversy was not-given upon a loan made to De Mott; but was merely a security for the return of the amount, with interest, in case the arrangement should not: be consummated' so as to have the- $700 applied as a payment on Starkey’s bond and mortgage, upon its being assigned to the complainant inpayment of Montgomery’s prior mortgage,…
2Cases cited1 opinion
- O'Callaghan v. SawyerNew York Supreme Court · 1809
3Cited by7 opinions
- Porter v. . Williams and ClarkNew York Court of Appeals · 1853
- Cardenas v. MillerCalifornia Supreme Court · 1895
- Dows v. . KidderNew York Court of Appeals · 1881
- Sweeney v. BixlerSupreme Court of Alabama · 1881
- Bowen v. ThrallSupreme Court of Vermont · 1856
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