Silver Lake Bank v. North
New York Court of Chancery
THE bill stated, that on the 10th of November, 1817, the defendant mortgaged to the plaintiffs lands in the county of Delaware, in this state, to secure the payment of a bond of the defendant and B. North, to them, for 3,000 dollars, which was given to secure such sums of money as should be thereafter lent by the plaintiffs to the_ obligors, or either of them.
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THE bill stated, that on the 10th of November, 1817, the defendant mortgaged to the plaintiffs lands in the county of Delaware, in this state, to secure the payment of a bond of the defendant and B. North, to them, for 3,000 dollars, which was given to secure such sums of money as should be thereafter lent by the plaintiffs to the_ obligors, or either of them. That on the 13th of November, 1317, the plaintiffs lent to B. JY. 2,000 dollars, on this security, and on the 19th of March, 1818, the further sum of 525 dollars. That a judgment had been obtained by the Cats-hill bank, in this state,…
1Opinion of the Court
The Chancellor.
There are several objections raised by the answer, and by the counsel, at the hearing, to the right of the plaintiffs to a foreclosure or sale of the mortgaged premises.
1. It is objected, that a foreign corporation cannot be recognised as such, and entitled to sue in our Courts.
It appears, by the pleadings and proofs, that the plaintiffs are a banking corporation, created by an act of the Legislature of Pennsylvania, and that they took the mortgage in question to secure a loan of money made at their banking house in that state. There is perfect justice and equity in their…
2Cases cited1 opinion
- President of the Bank of United States v. HaskinsNew York Supreme Court · 1799
3Cited by44 opinions
- Davis v. Old Colony RailroadMassachusetts Supreme Judicial Court · 1881
- Bissell v. Michigan Southern & Northern Indiana Railroad CompaniesNew York Court of Appeals · 1860
- State Board of Agriculture v. Citizens Street Railway Co.Indiana Supreme Court · 1874
- Merrick v. . Van SantvoordNew York Court of Appeals · 1866
- Hogg v. LongstrethSupreme Court of Pennsylvania · 1881
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