Church v. . Maloy
New York Court of Appeals
Appeal from judgment of the General Term of the Supreme Court in the second judicial department, affirming a judgment in favor of plaintiff, entered upon the report of a referee. (Reported below, 9 Hun, 148.) This action was brought for the foreclosure of a mortgage.
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Appeal from judgment of the General Term of the Supreme Court in the second judicial department, affirming a judgment in favor of plaintiff, entered upon the report of a referee. (Reported below, 9 Hun, 148.) This action was brought for the foreclosure of a mortgage. By the terms of the bond to secure the payment of which the mortgage was given, the principal became due May 1st, 1874, interest was to be paid semi-annually, and in case of default in the payment of an installment of interest for twenty days, then the principal should, at the option of the obligee or his assigns, become due and…
1Opinion of the CourtAndrews, J.
There was no valid extension of the time of payment of the bond and mortgage. The agreement for the extension was usurious, and the defendant could immediately have brought his action to recover back the $500, or he had the right in equity to have it applied as a payment on the mortgage. (Crane v. Hubbel, 7 Paige, 413; Judd v. Seaver, 8 id., 548; R. E. Trust Co. v. Keech, 7 Hun, 253; 69 N. Y., 248.) The mortgage was due when the usurious agreement for extension was made, and that agreement did not postpone the right of the creditor to foreclose it. ( Vilas v. Jones, 1 N. Y., 274.)
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2Cases cited3 opinions
- Vilas & Bacon v. Jones & PiercyNew York Court of Appeals · 1848
- Real Estate Trust Company v. . KeechNew York Court of Appeals · 1877
- Crane v. HubbelNew York Court of Chancery · 1839
3Cited by7 opinions
- London v. ToneyNew York Court of Appeals · 1934
- Ganz v. . LancasterNew York Court of Appeals · 1902
- Bowery Savings Bank v. NirensteinNew York Court of Appeals · 1935
- Dichter v. Viking Office Products, Inc.Appellate Division of the Supreme Court of the State of New York · 1986
- Patterson v. AlbertMichigan Supreme Court · 1934
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